Friday, August 19, 2016

Insurance Tips for Students Going Off to College

Summer is coming to an end and everyone is getting ready to head back to school. For those students heading off to college, there's a lot to think about. Insurance coverage is probably one of the last things on your mind, but it's important that you make sure you're still fully covered now that you're leaving the nest and heading out on your own. In today's blog, your favorite Lake of the Ozarks insurance agent offers a few insurance tips for those of you headed off to college:

Dorm Room vs Off-Campus Apartment 

When you lived at home, your parents' homeowners insurance covered all your personal belongings. Now that you're in college to you still have coverage for your stuff? Do you need to buy your own insurance now? The answers to these questions depend on where you are living. If you're living in a dorm room, chances are your parents' homeowners insurance policy will still cover your personal belongings. You may still want to talk to your parents' insurance agent at the Lake of the Ozarks to make sure there is enough coverage for expensive items such as that new laptop you got for school. However, if you live in an off-campus apartment, you'll probably want to invest in a renters insurance policy. While that may just seem like one more bill you're now responsible for paying each month, renter's insurance is very affordable. You can usually find plans for around $15-$20 per month.

Good Student Discounts

Chances are you already have Lake of the Ozarks auto insurance, especially if you've been driving since you were 16 years old. You can easily remain on your parents' auto insurance policy when you go off to college. However, you should consider looking into good student discounts. Whether you're lucky enough to have your parents continue to pay your auto insurance or if they're requiring you to pay it now that you're an adult going off to college, you could save a considerable amount with the good student discount. Talk to your insurance agent about any discounts that may be available.

Health Insurance Requirements

With the Affordable Care Act, everyone is now required to have health insurance, otherwise they will have to pay a penalty. Health insurance policies should in most cases allow children to stay on their parents' policies up to age 26. Be sure to talk to your agent about your coverage and whether or not you need to purchase your own plan now that you're an adult. Open enrollment doesn't happen again until November; however, there are certain exceptions such as having a birthday and turning an age that is no longer covered by your parents' health insurance policy.

When it comes to insurance coverage, Insure the Lake is here to help you with every aspect. From renters insurance to auto insurance, we'll help you find the best coverage at the best price! Give us a call at 573-348-2794 today to discuss your current coverage and identify any gaps or changes that may need to be made at this point in your life. Good luck to all those students heading off to college this fall!

Request a Free Quote Online! Contact Insure the Lake today for all your Lake of the Ozarks insurance needs! 

About the Author: Steve is a double back-flip insurance ninja. He was named Young Insurance Agent of the Year by the Missouri Association of Insurance Agents in 2010 and is a Certified Insurance Counselor. When he is not helping customers, he enjoys community service, Latin dancing with his beautiful wife and going on adventures with his two awesome sons.

Steve Naught, CIC
3736 Osage Beach Parkway
Osage Beach, MO 65065
Next to Golden Coral