Off to University or College? Insurance Class is in Session

Books – ✔

Pencils – ✔

Laptop – ✔

Insurance – …………???

When students leave home to attend school, there are a lot of things to consider. For many, it will be the first time living on their own, bringing with it new responsibilities. Insurance is one of those responsibilities that it is time to learn about… before classes start.

Luckily we are here to help, so listen up and ace Insurance Protection 101!

Class is in Session

Lesson #1
Contact your Rhodes & Williams Insurance Broker before you head off to University.

Not with Rhodes & Williams? (shame on you! ;-)) Contact your insurance representative. Whomever looks after your insurance should be there as a resource to answer your questions and provide you with options. Explain your unique situation and ask for help.

Lesson #2
It may cost you nothing.

With many insurance companies, if a student is temporarily away at University, still “dependent” on their parents and in school full time, their parents insurance policy may extend to provide them coverage up to a certain limit. That limit may well differ from one insurance company to another so pick up the phone and talk to your insurance broker to make sure it is enough for your situation.

If you are not covered under your parent’s home insurance policy, there may be an option to purchase an affordable renters insurance policy for as low as $19/month.  If pairing with the same insurance company that you already have your auto insurance with, there is a chance you could get virtually free renter insurance.

Lesson #3
Every situation is unique, just like every person is unique.

Are you going to University on a music scholarship and have very expensive equipment? You are unique! Are you not a typical “broke student” and have some more valuable contents to consider? You are unique! Are you living off-campus with many other non-related students? You are Unique!

Each of you should discuss your situation and make informed decisions that protects you.

Lesson #4
There is a difference between protection for your “stuff” and liability protection.

What if you were to cause damage, or if your actions were considered negligent resulting in injury or damage to another person or thing? That is where liability insurance comes in and it could be worth a lot more than the replacement cost of your laptop. Ask if you are covered.

Class Dismissed.