Safety and Insurance Tips for College Students
By Sue C. Quimby, CPCU, AU, CIC, CPIW, DAE, CLP-A – Senior Vice President
Going away to school is an exciting time for children and their parents. But, in addition to choosing classes, finding a place to live and making new friends, there are important issues that every college student needs to think about, such as safety and insurance. Helping students and their parents understand the exposures and provide proper protection is another value-added service of the professional insurance agent.
College students living away from home need to take life safety precautions. Living in a dorm is no different than staying in a hotel. Students should familiarize themselves with the nearest, as well as alternate, exits. Keeping a fire extinguisher handy is always a good idea.
According to the National Fire Protection Association (NFPA), from the years 2017- 2021, there were an average of 3,379 fires in dormitories, frat houses and off campus housing. They resulted in an average of 23 injuries and $12 million in direct property damage per year. Most of these incidents (9 out of 10) were cooking related. Appliances such as grills, ovens, hot plates, and microwaves should never be left unattended. Each year during Campus Fire Safety Month in September, the NFPA provides information to students, families and college administrators to help prevent fires.
Theft of personal property is another common occurrence on campus. The National Center for Education Statistics reported 6,500 burglaries in 2021. Students away at school may or may not be covered under their parents’ homeowners’ policies. Even if coverage for their belongings is provided, it may be limited. Property regularly located at a residence away from the parents’ is usually capped at 10% of the parents’ personal property limit. A student’s home theater system could easily exceed this amount. Students living in off campus apartments or houses need their own renter’s policy, especially if the lease is in the student’s name.
A renter’s policy provides coverage for damage to the student’s possessions, as well as liability coverage for unintended bodily injury or damage to property of others. This would include limited coverage for accidental damage to the apartment itself. It is important to keep a record of all personal property, such as serial numbers, receipts and pictures. Many students get engaged during college. Depending on the value of the engagement ring, it may or may not be covered under the parents’ homeowners policy. Most policies have limits on unscheduled jewelry. Scheduling the ring on the renter’s policy can provide proper coverage if it is lost or damaged.
Automobile exposures also change when a child goes to college. It is estimated that 70% of students own or have access to a vehicle. Those who have their cars at school should notify their insurance carrier – whether they are named on their parents’ policies or have their own. The change of location could affect the premium. Students must take care to follow university and local parking and other motor vehicle regulations. If students are away from home without access to a car, this could reduce the insurance premium. Many companies offer good student discounts.
Health insurance is another area to be aware of. Requirements vary by state, but there is usually an age limit at which the student is no longer eligible for coverage under their parents’ policy, even if they are technically still a resident of the household. In addition, students away at school may be outside of their plan’s service area. There are a number of affordable health insurance programs that cater to college students. Finding out where the infirmary is and how to get help is something all students should do as soon as they get to campus.
Studying abroad is becoming a more and more popular option at institutions of higher education. There are special insurance policies that provide coverage if the course is cancelled and pay for travel home should the student become ill or injured. Coverage is also available for students who travel abroad during holidays and breaks. Whether at home or away, students should always carry emergency contact information and their health insurance coverage card in an accessible place.
College students are asked to share a lot of personal information. Identity theft coverage, which can usually be included on the renter’s policy, helps pay for expenses incurred to repair the credit record when a person’s identity is stolen. Some identity theft policies offer services to do the time-consuming legwork – an important consideration to a student with a full course load. Social security cards and other personal information should be kept in a safe, locked location.
Going away to college is an adventure. Ensuring that students have the proper insurance should not be. Providing practical advice and offering adequate coverage is the mark of the true insurance professional.
This article is for educational and discussion purposes only and it is not insurance or legal advice and should not be relied upon when making insurance or legal decisions. Nothing herein shall be construed to constitute a legal or underwriting opinion. Nothing herein shall be construed as offering any political, social, or public policy opinion by the author or MSO. Neither the author nor MSO are responsible for errors in, or the accuracy or currentness of, the article.
