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Back-to-School Insurance FAQs (College Edition)

By August 22, 2022Personal Insurance

Back to school time is here! If you’ve got a high school grad and they’re starting a new chapter at college, tech school, or somewhere else, we know there are a ton of questions on your mind. We’ve compiled a list of helpful insurance FAQs to help make sure you and your children have the coverage you need.

Should I remove my child from my car insurance since they will not be using their car at college?

In most cases, college students should stay on their parent’s car insurance when they go away to school – assuming they haven’t permanently moved out (meaning changed the address on the driver’s license). If your student driver is away at school and injured in a car accident as a passenger or pedestrian, they will need coverage under their policy at home. Additionally, the convenience of them being able to drive when home on breaks along with getting a better rate for being continually insured makes sense to keep them listed.


Do I get any discounts if my child does not take their car to campus? 

Yes! It’s possible to get one if you’re looking for a student discount on your car insurance. There are all kinds of discounts available for college students and how this is done will vary between insurance companies.


Does my homeowner’s insurance policy cover my child’s belongings while living in a dormitory?

College students are typically covered at no charge under their parents’ homeowners insurance for both property (their personal items) and liability (they cause accidental injury to someone or damage to something). Each policy has different rules and limitations so it’s best to ask a few questions.


What about if they are renting an off-campus apartment instead?

It depends. Generally, if they are still a full-time student they’re automatically covered. If not, that simple carry-over may disappear. In that case, a separate renters insurance policy in your student’s name can offer protection. The good news is that these policies are very affordable, even for college students living on slender budgets. As a side note, just because your student is covered doesn’t mean their roommates are too. Each roomate should have their own insurance coverage.


My child is doing great at school, are there any discounts for good grades? 

Yes, with some insurance companies student drivers can save between 4% and 20% on car insurance by earning a 3.0 GPA or better. Generally speaking, insurance companies will give either a good student or a driver training program discount.


Should I be concerned about being a co-signer on my child’s student loans? 

When you cosign that loan, you’re just as responsible for the balance as your student. While no one wants to discuss it, that does mean if your child becomes disabled or passes away, you will still have to pay the loan back. Life insurance can be a very inexpensive way to pay off student loan debt should something unfortunate happen.


My child wants to work for Uber, Lyft, or Door Dash while they’re at school. What do I need to do? 

Insurance for these types of businesses is very specialized. Just because you have insurance doesn’t mean you’re covered to use that vehicle for business. In most cases, your insurance company will need to add a special business use provision to your policy. Since every policy is different, it’s very important to talk to your insurance agency before you start using your vehicle for business.