Back to School

Back to School

Art Glasgow, Peck-Glasgow Insurance

It is that time of year again, school bells are ringing and students are returning to the class rooms.  Also approaching is the return of students to college.  This means lots of "stuff" being sent to
college with them. 

Students away at college may not have much space, but they do have quiet an assembly of things.  From clothes and shoes to books, computers, digital cameras, televisions, and microwaves, these items can
add up in a hurry if you look to replace all of them.  How do we cover the student away at college?

 

The first step is to have a discussion with your insurance agent.  There are several different ways to cover kids property while away at school, and your agent can help you put together the best way for
your individual needs.  With that said, most insurance companies limit the amount of coverage away from the homeowners premises to 10% of the Coverage C limit.  Coverage C is your personal property coverage.  In many cases this is sufficient to cover students
belongings in a dorm room.

However, it may not be enough coverage as many of today’s students have very sophisticated tastes and property.  Some homeowner insurance companies do not have the 10% Coverage C limitation for personal
property of a full-time student away at school.  Another way is to write a tenant homeowner for the college student if they are full time and typically year round students.  This is referred to as a HO4 form for renters.

We must also address the age limitations in the policy.  Again, ask your agent for the your insurance company specific guidelines.  Most commonly if the student is a relative of the insured, the student
must be under age 24.  If in the care of the insured or a resident relative, the student must be under age 21.

Back to school is an exciting time for everyone.  College student’s represent unique exposures, so please discuss their person property needs, auto insurance needs, and health insurance needs with your
professional agent.  A favorite saying of mine is "insure to be sure"!