College life is filled with exciting, new experiences in the classroom, on campus, and out in the real world. But there are also costly risks that many college students may encounter as they navigate their way into adulthood. It’s important to secure affordable insurance coverage that minimizes those risks based on factors like lifestyle and budget.
From auto coverage and renters insurance plans to health insurance policies, there are different types of insurance that will ensure financial stability in the event that something goes wrong. Below, we provide a quick education on insurance coverage options for college students.
Car Insurance
Every college student who has a driver’s license should have proper auto insurance. Consider the following when looking to secure car insurance for a college student:
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- Car insurance can be expensive, so shop around for good-grade discounts to help save money.
- Consider non-owner car insurance if there are plans to borrow a roommate’s car. It’s best not to rely on their insurance to provide the necessary coverage.
- Avoid lapses in car insurance coverage to keep insurance history active and premiums low.
- If college students plan to drive for Uber or Lyft while away at school, it’s important to look into rideshare insurance which may extend existing coverage terms to protect against costly risks unique to this type of job.
Home & Renters Insurance
No matter where college students live — at home, in a dorm, or in off-campus housing — it’s important to protect valued items. From laptops and other electronics to textbooks and jewelry, expensive belongings should be covered by a home or renters insurance policy. Being listed as a dependent on a parent’s homeowners’ policy provides reliable coverage if property is lost, stolen, or damaged. If not, dorm insurance and renters insurance offer dependable coverage at affordable rates.
Health Insurance
Most colleges and universities require that enrolled students have basic health insurance in place. Fortunately, there is a range of plan types and costs that make it easy for college students to secure coverage. Some of the most accessible health insurance options for college students today may include the following:
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- The Affordable Care Act allows young adults to stay covered under a parent’s health insurance plan until the age of 26. Be sure to check for in-network providers near the school.
- Most schools also offer basic healthcare coverage to enrolled students through comprehensive student health insurance plans.
- Visit the Health Insurance Marketplace at www.healthcare.gov to purchase healthcare coverage in case of illness or injury.
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At Doeren Mayhew Insurance Group, we specialize in delivering personalized insurance solutions during all phases of life. You can rely on our time-tested experience and expertise to guide you through your insurance options. Contact us to learn more about securing insurance coverage for college students, or to schedule a consultation today.