Tom's BlogYou can hit the snooze button for some of your classes, but not this one! Before you go off to college, there are some interesting things you need to know regarding insurance coverage for college students. This is one class you won’t want to miss.
Thinking about your parent’s homeowners insurance policy is not on the forefront of your mind right now as you prepare for college; however there are things you need to know. The good news is that if you meet the following criteria, you are covered under your parent’s N.C. homeowners policy:
- Under the age of 24
- Enrolled in school full-time
- Resident of the household before moving to college
Your parent’s policy will extend coverage to you while you are away at school so if you hurt somebody or damage someone else’s property, the bodily injury and property damage coverage under their homeowners policy will extend to you.
*Be aware that intentional acts are never covered.
You May Need a North Carolina Umbrella
Going off to college means being exposed to additional risks for which you may need additional coverage. You may want to consider a personal umbrella policy, which would provide an additional amount of liability protection above and beyond what the standard coverage offers. Some examples of what may be covered under an umbrella are:
- Libel/Slander
- False Arrest
- False Imprisonment
- Wrongful Eviction
- Privacy Rights Violation
- Defense Costs
You May Have Gaps in Your North Carolina Auto Insurance Policy
Before you leave for college, you will need to make sure there are no gaps in your parent’s N.C. auto policy. Making a phone call to your N.C. independent insurance agent to go over whether you will be taking your car to school, your plans for driving your auto to a job, or who will be regularly driving your car are all important factors that need to be reviewed and discussed.
Do You Need North Carolina Renters Insurance?
If you are moving into an apartment, you may want to consider renters insurance, which safeguards all of your personal belongings from covered losses such as fire and theft, even if you decide to study abroad.
Do You Need a Scheduled Personal Property Endorsement?
What would you do if you lost that new pricey laptop? What if it was stolen? The good news is that your parent’s N.C. homeowners policy may cover a portion of the replacement, but many times there are specific limits applied to certain items and the end result may not be enough to replace that laptop. To make sure that doesn’t happen, you may want to consider adding a scheduled personal property endorsement on your parent’s homeowners policy for any of your personal items that have a larger price tag.
Protect Yourself from Fraud
Many times, college students are targets for identity theft. Many students are taking out their first credit cards and establishing first time credit lines, which may increase the likelihood of identity fraud. Ask your parents to consider the addition of Identity Recovery coverage to their homeowners policy for that added protection.
Call Your N.C. Independent Agent Today!
Before you head out the door and wave goodbye to your parents, contact your N.C. independent insurance agent to check your current coverages under your homeowners policy and make sure you have adequate protection for all of your personal belongings.
Class Dismissed!
