Is insurance necessary for College students?

   So many preparations go into sending a child off to college. Applications and Acceptance letters, packing, tuition, dorms, text books, schedules. The list is endless. The cost can be frightening. Did insurance make your list of considerations? Is additional insurance even necessary? 
     You may not need additional insurance, but you should review your coverage. Believing your student and their property is covered when they are not can cost you quite a bit. Is the car covered so far from home? How about that new Laptop or iPad you sent with your student? What about their personal property in their dorm or apartment?
   Auto Insurance: Is your student taking the car with them to college? You will need to let your insurance company know the garaging zip code is changing for that car. It can change your rates, depending on where the student is taking the car. Many insurance companies give a discount if students leave the car at home while attending college over 100 miles away. Many offer a good student discount to those who maintain a B average or better.
   Personal Property: These days it is not uncommon for students to keep thousands of dollars of electronic gadgets and toys in their Dorm room or apartment. Laptops, video games, bicycles and musical instruments among others, should be covered. These items are usually covered by the parents Home Owners policy but a Home owners policy often has a high deductible. So if one of these items is stolen, the value of the item may be below the deductible, therefore the insured would not receive a benefit of insurance. Renters Insurance can have a much lower deductible, as low as $100.  It can be an affordable alternative at $150-$200 a year.
   Health Insurance: Make sure you student is covered outside of your area/network.
There are many other additional insurance policies you can discuss with your Insurance Agent such as Travel, Tuition and Life Insurance. They may or may not be necessary to your situation. Make sure. 
   Not knowing what your student is covered for can cost you thousands in replacement costs. And while insurance cannot give you piece of mind that your child will fair well out in the world, it will make sure their property is taken care of.