Is Your College Student Covered?

As your son or daughter goes off to college, it may look like they're packing everything but the kitchen sink. But, are they going off on their own with adequate insurance?

Tenants/Renters Insurance

Between the microwave, TV, DVD player, stereo equipment, hundreds of CDs, and a closet full of clothes, your college student has a lot invested in their new household. And, all those items can fall victim to damage or ruin from fire (including smoke and water damage), theft or vandalism.

It's important to distinguish between insurance on the dwelling vs. insurance on the possessions within it. While your child's landlord most likely carries insurance, it only covers their property – that is, the building. Any personal item destroyed during a fire or other disaster is not covered under the landlord's policy.

So, unless your college student – or, more likely, you - can afford to replace EVERYTHING they own, it's time to think of Tenants/Renters Insurance from Gateway Insurance Services, not as an option but as a necessity.

Tenants/renters insurance is affordable. Premiums are based on factors such as the building's location, square footage of the apartment or room, and replacement value of the renter's possessions.

Automobile Insurance

Very few college students move away from home without taking their "wheels" with them. Now is the time to evaluate the cost of keeping them covered on your policy vs. purchasing their own insurance. But, regardless of whether the insurance is in your name or theirs, certain factors determine automobile insurance rates; driving record, gender and ZIP code are just a few.

Gateway Insurance Services offers college students several ways to save on their coverage, including:

• Safe-driver Discount – Your student's rate will be lower if they are free from accidents and violations on their driving record.
• Good-student Discount – Applies to students who maintain at least a B average, are on the dean's list or in the top 20 percent of their class.
• Low-mileage Discount – Students who live close to campus or who don't drive much can benefit from this discount.

To learn more about tenants/renters or automobile insurance for your college student – and receive a free, no-obligation quote – contact a Gateway Insurance Services professional today!