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How does my child going to college affect my insurance? | Michigan auto, home insurance

posted Aug 25, 2015, 7:52 AM by Jason Grubbs   [ updated Sep 14, 2016, 12:07 PM ]
If your son or daughter is leaving home for college this fall, congratulations!

How does this affect your insurance?

It's well worth your time to inform your insurance agent about life changes such as a student attending college away from home as they can advise you how this affects your insurance and - quite possibly - save you money.

Auto Insurance
  • Distant Student - If your child will be attending a college more than 100 miles from home, without a vehicle, you may qualify for a discount on your auto insurance reflecting they won't routinely be driving one of your vehicles.  You'll save money and still be covered if your child drives while home on breaks or if they borrow a friend's vehicle.
  • Good Student - Discounts are available for high school, college, or vocational/technical school students who maintain good grades and a clean driving record.
Home Insurance
  • Living In A Dorm - Coverage for personal belongings will extend from your home policy for the personal belongings of students residing in a dorm on campus.
  • Renting An Apartment - If your student will be renting an apartment or living in off campus housing you will need to purchase separate renters insurance to cover their personal belongings
  • Personal Electronics - Most youngsters are inseparable from their personal electronics - cell phones, tablets, media players, and laptop computers.  Check whether your insurance company offers a rider for these items on your home or renters insurance policy: for a modest additional cost this type of rider provides better coverage with a lower deductible for these items that are a popular target for thieves.
Did you know?
Term life insurance is available at age 18.
Purchasing a policy while a child is young & healthy can be a great way to obtain affordable protection and lock in rates for 10, 15, 20, or even 30 years!
College student - insurance discounts
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