Do Students need Insurance at College?
By the time your son or daughter leaves for college, many important decisions will have been made, such as where to live or whether they will have a car while off to college. Just as important, but often overlooked is the type of insurance coverage your student will need. Do they own enough insurance do the own the right kind of insurance? At Bryton Insurance Agency, we will help you make sure that your new college student is ready for the first day of classes.
You have a lot invested in sending your young student off to college. In addition to college tuition and room and board, there are many personal items that cost quite a bit of money as well, such as a microwave, TV, DVD player, stereo equipment, CD music, and a closet full of clothes. Each of these items has a value that can be diminished if your son or daughter falls victim to theft, vandalism, or ruin from fire including smoke and water damage.
It’s important to understand the distinction between insurance on a dwelling versus insurance on possessions within it. While your a renter’s landlord most likely carries insurance, it only covers their property – that is, the building. Personal items destroyed during a fire or other disaster are not covered under a landlord’s policy.
Consequently, if something happens you may have to replace EVERYTHING that was lost. To mitigate some of this risk, you should think about obtaining a Tenants/Renters Insurance policy from Bryton Insurance Agency, not as an option, but out of necessity. Tenants/renters insurance is very affordable and premiums are based on factors such as a building’s location, total square footage of an apartment or room, and replacement value of all of the renter’s possessions.
Many college students move away from home and take their automobiles with them. If your young student does take a car, now would be a good time to evaluate the overall costs of keeping them covered under your policy versus purchasing a separate policy for them. Notwithstanding whether insurance is in the parent’s name or the student’s, a number of factors determine automobile insurance rates, including, but not limited to, overall driving record, gender and ZIP code.
Bryton Insurance Agency offers college students several ways to maximize savings on their auto coverage:
Safe-driver Discounts – Your student’s rate will be lower if they are free from accidents and violations on their driving record.
Good-student Discounts – Applies to students who maintain at least a B average, are on the dean’s list or in the top 20 percent of their class.
Low-mileage Discounts – Students who live close to campus or who don’t drive much can benefit from this discount.
To learn more about tenants/renters or automobile insurance for your college student – and to receive a free, no-obligation insurance quote – contact Bryton Insurance Agency !