What Your College Student Needs to Know About Insurance
It’s hard to send a child off to college. You have to pack their bags and furnish their dorm, all while wondering how well you’ve prepared them for the world. We understand, and we want to help ease your mind. That’s why we’ve developed a simple list of the insurance basics you need to teach your child before they leave home.
Make sure your child knows what to do in the event of a car accident.
Unfortunately, your son or daughter may experience a car accident in college. Therefore, you need to teach them how to handle it so they can file a proper insurance claim. Tell them to…
- Call 911 if they or someone else gets injured.
- Call the police so an officer can fill out an accident report.
- Exchange information with the other driver, including names, contact info, driver’s license numbers, and plate numbers.
- Document the accident by taking pictures, identifying any officers on the scene, getting a copy of the accident report, and talking to witnesses.
- Notify their insurer.
Make sure your child gets renter’s insurance if they’re leasing an apartment in their own name.
Renter’s insurance will cover your child’s personal belongings, such as clothing, furniture, and belongings. Instruct your son or daughter to make a list of their possessions and keep it in a fireproof safe. They should also know that policies have limits for items like jewelry, guns, and collectibles.
Of course, if your child has a roommate, that roommate will need their own policy.
Talk to your child about whether or not to take out a life insurance policy.
College freshmen don’t often think about life insurance policies, but it might not be a bad idea for them to get one. While they probably don’t have dependents, but they might have debts. Those debts could get passed on to their survivors if anything happens to them. The good news, however, is that life insurance policies for the young are very affordable.
Contact one of our agents if you or your child decides to purchase a life insurance policy. We’ll help you find the affordable coverage that suits your needs.