College students around the state have already started moving back to campus. Insurance
may be the last thing.
If your student moved into a dorm room, your homeowners’ policy will likely cover their
belongings in case of a loss. Just ask your child to let you know if he or she buys a new
computer or other pricey items. You’ll need to check with your insurance company to
make sure your coverage will take care of these things.
Students living off campus should get renters insurance. This coverage will protect your
child’s belongings and insure you if someone is injured on the property. Premiums for
renters insurance range between $15-$30 a month, depending on the location and size of
the rental unit and the value of the possessions.
No matter where your student lives, a home inventory is a good idea. The list of items
will make a future insurance claim quicker and easier to settle.
Oklahoma requires that every car have auto liability coverage or otherwise meet the
financial responsibility requirements of Oklahoma law. Auto liability insurance pays for
property damage and bodily injury to someone else if you are found responsible for an
accident, up to the limits of the policy. If the title to the car is in your student’s name, he
will have to have his own policy. If your college student is driving a car you own, your
child can likely stay on your policy. Check with your insurance agent or insurance
company, and also let them know where the car will be stored if the address is different
than what’s on the policy.
Students have several options for health insurance coverage while away at college. If
your child is covered under your insurance now, chances are she will still be covered
while away at school. Any insurance plan that offers dependent coverage must make that
available until the dependent is 26 years old. Before they head off to school, make sure
your student has a copy of your insurance cards and knows what doctors, hospitals and
pharmacies are covered within your network.
College students also have the option to purchase health insurance through the
marketplace or possibly through the school.
Moving off to college is an exciting time for both students and parents. And having the
reassurance that the proper coverage is in place will make the transition go smoothly. For
more insurance information, contact the Oklahoma Insurance Department at 1-800-522-0071 or visit our website at www.ok.gov.