The month of August is associated with returning to school. In the state of Florida, there are an estimated 800,000 college students ready to embark on a new journey through academia. From figuring out the many different housing options, getting registered for the perfect classes and living life away from the family, there is a lot to get done in a short amount of time. Back to school season always marks the latter half of the year where hurricane season will be at its peak as well. With all these things happening, the hustle and bustle of school time can bring a new layer of hecticness for everyone.
In the new era of online classes and fully virtual university settings, you should still consider reviewing or making changes to your insurance policy. Insurance, you say? Yes, even with the millions of different thoughts and emotions running through you and your child’s heads, insurance options and coverage is important. Students and their families must prepare for any speed bumps along the way, whether the classes will be in-person, online, or a hybrid of the two.
Here are a few things to consider when it comes to the relationship between college and insurance.
1. Renters insurance is a #1 priority:
If the student is renting a house or apartment for the school year, renters’ insurance may be required by landlords. Renter’s insurance is the most popular and necessary policy for a college student. Is a great thing to have, especially since a policy can be had at a lower cost. Most policies are under $200 and can cover quite a lot. A student with renters’ insurance will have coverage which includes financial reimbursement for personal property that is damaged or stolen. This is extremely important due to how many expensive electronics (phones, tablets, computers, televisions, and more) students possess today. If it is a multi-room unit (three or four students per apartment) then the policy can cover others’ electronics and personal property as well. As an added bonus, there is included liability insurance if someone is injured inside the property. As students make friends with each other, it is common to bounce from apartments or houses frequently, leaving for more chances of injury. A good renter’s insurance policy is the real MVP.
2. Auto insurance
If the student is attending an out of state school and needs a vehicle to get around, you can adjust your policy to ensure they are properly covered while driving in a new area. Many states have different laws for driving, which will take time to get used to. It is important to make sure they have auto insurance for any snafus on the road. Nobody wants to think of any car accidents far from home, but this coverage will come in handy in the event something does happen.
3. If your child is at home this semester:
COVID19 has made some unexpected changes to classroom meetings. Many students this upcoming semester may be utilizing online platforms from home and learning in a fully digital environment. If the student is home this semester, your current homeowners insurance policy may not be affected. If your child is under the age of 24 years old and considered a full-time college student, they can be covered on your current homeowners policy. This policy extends coverage even outside of the property. Includes damages to personal items, and liability. If you need to adjust your policy regarding your child coming back home from a university, please reach out to an agent and explain the current situation. Having your child move back in after a few semesters in a different place may not be ideal, but appropriate coverage for everyone at home is important.
4. Student Away Endorsement
This type of optional endorsement aims to extend the same coverage from homeowners and renter’s insurance for students over the age of 24 and/or part-time. This is mainly because the student does not own the property where they are residing at the time. The student away endorsement is easy to obtain. By simply listing their name, and address they are residing, they will be covered.
As we approach a new school year in this interesting time, we hope all your coverage is up to date. Please reach out to any one of our agents if you need to make any adjustments. We are available by phone at 850.244.2111 or email at service@harrisinsurance.com.
Above all, we wish every new student this year good luck with this new chapter in their lives!
LEGAL DISCLAIMER
Views expressed here do not constitute legal advice. The information contained herein is for general guidance of matter only and not for the purpose of providing legal advice. Discussion of insurance policy language is descriptive only. Every policy has different policy language. Coverage afforded under any insurance policy issued is subject to individual policy terms and conditions. Please refer to your policy for the actual language.
