Insurance tips for students heading to college from Virginia State Corporation Commission

RICHMOND, Va. (WRIC) — The Virginia State Corporation Commission (SCC) Bureau of Insurance is encouraging families of college students to make a checklist and thoroughly review it to make sure they are meeting all of their insurance needs before the school year begins in the fall.

The bureau asks students and their parents to shop around for insurance policies, compare provisions and make sure they understand the terms of the policies, as well as exclusions, deductibles and limits.

“Protect yourself and your family financially by ensuring your student has the insurance coverage they need for their health, auto, living space and belongings before they leave for college,” said Virginia Insurance Commissioner Scott A. White. “Make sure they understand their coverage and how to file a claim, if needed.”

The bureau offers the following tips for students entering college and their families:

Health Insurance

College students have several options for health insurance coverage, including staying on their parents’ insurance until reaching the age of 26. Students staying on their parents’ insurance should make sure they have a copy of their insurance cards, as well as an understanding of what services are covered and how to obtain a referral.

Just like with any insurance policy, students on their parents’ health insurance should know what healthcare providers around their campus are part of their network. Students who are not on their parents’ insurance may be eligible for a Special Enrollment Period to apply for private health insurance through Virginia Insurance Marketplace .

Personal Property/Renters Insurance

Students living on or off-campus may be able to use their parents’ homeowners or renters insurance to insure their belongings, but those policies may not cover certain items. Students should consider getting their own renters insurance policies, premiums for which may depend on the location of the rental unit or the value of the tenant’s possessions.

Students can use the National Association of Insurance Commissioners’ Home Inventory App to determine what they would need to cover with renters insurance.

Auto Insurance

Parents of students heading to college with a car should contact their insurance agent about the rates where the college is located before deciding whether to keep the student’s car on the family’s car insurance policy.

If the college is in another state, check that state’s minimum requirements for car insurance coverage and inquire about discounts for students or good drivers. Parents should always let their insurance agent know where a car will be driven and stored if that is different than the address listed on the policy.

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