COLUMBUS, Ohio — A new school year is upon us and as many parents across Northeast Ohio are sending their kids off to college, they're getting an important reminder—one regarding their insurance policies.
The Ohio Department of Insurance issued a reminder to parents of college students to review their policies to make sure of these three things:
- Their homeowner's or renter's insurance covers the student's belongings in case they are damaged or stolen from a dorm room or apartment.
- Their car insurance company knows if a vehicle is staying home or on campus as it can impact the premium
- Their health plan has been compared and contrasted to the students school health plan to determine which works better.
Here's a full checklist for parents of college students from the Ohio Department of Insurance:
Health Insurance
- Parent's policy: Insurance plan or other issuer coverage is available until the dependent reaches age 26. A student with a managed care plan away at school could be outside the medical provider network. The student may need to travel to receive routine and lower-priced in-network care.
- Student plan: Most colleges and universities require students to have health insurance. Students without coverage may opt to purchase a student health insurance plan. Many colleges and universities offer comprehensive plans.
- Dental and eye care: Routine dental and eye care generally are not included in a health insurance plan, although many colleges and universities offer dental and vision coverage options.
Homeowners/Renters Insurance
- Parent’s policy: A parent’s homeowners insurance policy may cover their student’s personal property possessions (books, bicycle, computer, television, furniture, and clothes) in the event of damage, destruction, or theft. It may also include liability coverage for on-campus dorm living but likely will not provide these coverages for off-campus housing.
- Special coverage limits: A typical homeowners insurance policy restricts coverage for certain types of personal property at or away from the primary residence. Depending on the parent's specific policy, purchasing additional coverage may be necessary. This coverage extension is unlikely to apply to off-campus housing.
- Renters insurance: In the absence of parent’s homeowners insurance, renters insurance insures personal possessions and provides liability coverage if the student is held liable for causing bodily injury, property damage, or financial loss to others.
Automobile Insurance
- Vehicle at school: If a student plans to take a vehicle to school, determine with an agent if it is best to remain on the family policy or for the student to secure their own policy.
- Vehicle not at school: If a student does not take a car to school, inform your agent or insurance company of the change. It may impact the premium.
- Discounts: Insurance companies may have discounts for students who show certain academic progress.
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