Back to School: College Insurance Needs

If you’re a parent who just dropped off their son or daughter for his or her first year of college, you may be curious to know what protections your existing policies provide and what you (or they) may need to add. Fortunately, we have a few quick tips that will help; however, we do encourage you to contact us with the specifics of your unique situation, so that we can give you the most accurate information.

Let’s begin by retracing your steps from home to the campus; did your child drive? More specifically, did your son or daughter bring a vehicle to school? If not, then he or she will probably not be driving the vehicle and you will want to let your agent know they are away at school without a vehicle, to save yourself some money. However, if the student does have a vehicle, you need to inform the insurance agent of the new address. This is not only to remain up-to-date, but it could affect the insurance rate. Some areas are considered more or less risky than others, so if your child is attending a school in a less-populated or lower-risk area you could be looking at reducing your insurance cost; consequently, the opposite is true as well.

Once at school, you may be interested to know if your homeowner’s policy will cover lost or stolen items from your son or daughter’s at-school housing. Coverage is most likely to extend to the student if he or she lives in campus housing. This can include dorms, on-campus apartments, and even some off-campus housing, so long as the housing is owned by the college. If the student lives in a non-college-owned rental, such as an apartment, townhome, or house, some coverage may extend, but the need for an additional renter’s insurance policy might be needed.

There are limitations to the coverage, beginning with the ISO form HO 00 03’s definition of “insured” as it related to family members attending school, it reads:

A student  enrolled in school full time, as defined by the school, who was a resident of your household before moving out to attend school, provided the student is under the age of

        24 and your relative; or

        21 and in your care or the care of” the residents of your household who are relatives.

Regardless, it is best to contact your insurance agent and explain the changes, so that you know that your son or daughter is protected.

Give us a call to confirm, change, or expand your insurance policy as it relates to your college-bound son or daughter. If you have any questions, we’re happy to put your mind at ease, letting go is difficult, this way you know that we have their back in case anything gets lost, stolen, or someone is injured on their property. Feel free to contact us at either of our locations:

Denver Office                                                             Castle Rock Office
1735 E. 17th Ave. #3                                                    513 Wilcox St. #200
Denver, CO 80218                                                      Castle Rock, CO 80104
303–388-7216                                                 Phone: 303–688-1251
Email:                        Email: