If the top insurance for college students isn’t on your mind as you head off to school, it should be.

Many seniors anxiously await the day that high school graduation comes. It’s a momentous event in the lives of many who look forward to leaving behind those rackety locker-filled hallways, chemistry exams, and awkward dances. 

Graduation is the first step towards “adulting” and losing the title of an irresponsible teenager. Many students will be leaving home for the first time, moving miles away, and adjusting to their new normal: a tiny square box and a cup of ramen noodles.

It’s all fun and games until the reality sets in – especially in these uncertain times. Unlike getting the keys to your first car or opening your own bank account, taking off for college requires a greater level of self-reliance.  

Parents know the excitement can soon fade when the responsibilities of adulting start to pile up. To avoid an onset of fear, take this time to inform and educate your recent graduate on financial responsibility, insurance coverage, and safety.

Before your child heads off to college this fall, take a look at the top insurance for college students. 

Insurance checklist

1. Health Insurance

In recent years, several state universities have required students to purchase or provide health insurance coverage. It is likely this requirement was intended to keep students in school after an injury or unexpected illness occurs. 

The University of Florida has mandated that every student enrolled in a part-time or full-time program must submit proof of insurance. If no health insurance waiver is provided, the university will automatically apply the Student Health Insurance Plan (at a cost). 

The following shows the top options for health insurance coverage as a prospective college student:

  • Parent’s health plan
  • Student health plan
  • Individual coverage
  • Medicaid 

Each option comes with a list of pros/cons but it mostly comes down to personal preference. No matter the case, it is highly recommended to look into your university’s health insurance coverage plan. Sometimes these insurance policies can offer better coverage than your parents. 

2. Auto Insurance

Whether your child is taking the car to college or leaving it behind, you’ll want to discuss auto insurance options for this next stage of life. Contact your car insurance provider to see what discounts are available before making a change.

It is important for all incoming college students and parents to assess the important questions below:

For those students flying the coop without a vehicle, a parent’s first reaction might be to take his/her child off the car insurance plan. I get it, who doesn’t love saving some money. Before you jump to a decision, take a look at your insurance policy. 

Many insurance companies, like State Farm, can apply safe driving discounts that will keep costs low and keep your child protected at all times – even though they are not using the vehicle every day. 

State Farm offers the Student Away at School Discount for students who only use the vehicle during visits home or holiday breaks. This discount offers financial leeway while ensuring safe driving and coverage throughout the year. 

3. Renters Insurance 

While many college freshmen participate in the once-in-a-lifetime experience of sharing an 130 ft. room with a friend or random roommate, not all incoming students take this route. The dorm life is not for the faint of heart, and some students just need their privacy. 

If your child is seeking off-campus housing, you’ll want to add renters insurance to your insurance checklist. Even if your child isn’t living off-campus this year, you’ll want to know the advantages of having renters insurance down the road. It’s likely that dorm life will lose its charm. 

The possibility of burglary, vandalism, fire, or other damages all increase with off-campus living. To ensure your child is protected from theft or harm, get a free quote from GEICO or another notable insurance agency once a housing location is determined. 

While there are plenty of benefits to campus living, the recent climate of COVID-19 has had many universities needing to reassess the functionality and safety of dormitory living. With the fall semester quickly approaching, these colleges will have to take the necessary steps to ensure the safety of students and parents on move-in day.

To abide by social distancing guidelines, schools like the University of Miami are staggering move-in dates and limiting up to two family members per student

Now, more than ever, living off-campus might be the safest option to make. Don’t forget the need for renters insurance as a byproduct. 

4. Tuition Insurance 

Attending college requires a load of upfront costs that include room and board, classes, and living expenses. Depending on the school, tuition fees can add up quickly and your pocketbook can take a major hit. 

The sole purpose of tuition insurance is to provide proper reimbursement for tuition and fees if your child needs to withdraw from a university. There is a probationary period that allows students to withdraw, but this is usually only a few weeks into the semester.

The following instances are covered by tuition insurance:

  • Sudden injury
  • Serious illness
  • Mental health condition
  • Substance abuse 

These situations are circumstantial but can happen at any point of the semester. If affordable, tuition insurance can be a saving grace if your child endures one of the previously mentioned circumstances. 

Keep in mind, every school has a different refund policy. You’ll want to research whether tuition insurance is worth the cost. 

Don’t miss out on the top insurance for college students

As your child prepares for their next stage of life, it is crucial to consider the top insurance for college students. Beyond the fancy gown and prestigious tassels, graduation will undeniably bring a sense of accomplishment and fear for what’s to come. 

This checklist will guide you towards making informative and important decisions before your child heads off to college. Hey, maybe it’s the perfect time to share the financial responsibilities as well. Bottom line: get your graduate involved in these decisions so they can stay informed and prepared for the future of adulting. 

Michaella Malone
Hello! My name is Michaella Malone. I am a graduate of Florida State University with a B.A. in English. I am a freelance writer with varied experience in ghostwriting, blogging, and resume building. I have additional knowledge in creating content for ESL curriculums.

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    1. Always check for discounts when looking at any type of insurance.

    2. Renter’s insurance is just as important as homeowner’s insurance, when renting.

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