Back to School! Is your College Student Covered?

As your adult child heads off to college, you’re probably most concerned about him having adequate health care coverage, but there are other insurance policies that are also important. No matter where your child is going to school, or in what type of housing he’s living, there are a couple of policies to consider:

If your college student is living off campus, it’s a good idea to have renters insurance to protect their belongings. Most landlords will have a policy on the house itself, but that only includes the basics; not things like your child’s smart phone, MacBook and $100 designer jeans. Personal property coverage will cover your child’s personal belongings in the event of something such as a break-in or fire.

Most college-age students don’t think that they need life insurance, but a term life insurance policy on your child is great protection for your personal finances if they should pass on before their student loans are paid off. While many loans are canceled upon death, privately insured ones usually are not. And if you’ve co-signed on one of their loans, you’ll be forced to pay off the loan with your own money even if your child has passed away.

For more information about the type of insurance your college student might need, contact the agents at North American Advantage Insurance Services today.