Kids heading to college? Check your insurance

If you have a child heading to college, you should check in with your insurance agent to make sure your coverages are up to date.

Your homeowners insurance likely will provide some coverage automatically. Homeowners policies cover “resident relatives,” so as long as your child’s legal residence is your home address, they are usually covered. Some companies (like Erie Insurance) provide full coverage for personal property worldwide, while other companies limit the amount of coverage or the territory of coverage.

You may want to consider extra coverage on valuable items that will get a lot of use at college. Laptop computers, musical instruments, and other valuable portable items may be exposed to breakage or other damage that a typical homeowners policy doesn’t cover.

If your child chooses to live in an apartment rather than a dorm, the landlord may require a separate renter’s policy. This can get complicated if unrelated people share the apartment.

If they leave their car at home, you will probably be eligible for a significant discount on your auto insurance. On the other hand, if they take the car to college, some companies re-rate the coverage based on the new location – often at a significant increase in cost.

Co-signing any loans? You might want to consider life insurance on your child to protect yourself.

For more information, drop by our website at, or get in touch with Chris at 589-4477.

The information in this post is general in nature, and geared toward insurance conditions in Western New York.  As always, you should speak with an insurance adviser to determine your specific insurance needs.

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