03:44:00
Determining insurance requirements for college students is complicated. There are so many unique circumstances that it is impossible to give a simple answer to that question. Let's look at the following examples: Ashley's parents live in Seattle, and she will be going to school in San Jose. She will be living on campus, does not have a car, and doesn't get sick very often. Her parents' health insurance can provide coverage until she turns 26, and her university also offers health insurance. Mark will be going to an in-state school. He will live off campus, will take his car to college, and tends to get sick a lot. His can stay on his parents' health insurance until he turns 26, and his small college does not offer a health insurance plan to students.
Renters Insurance Insuring your personal belongings is important, but often overlooked by young college students. The need for renters insurance is largely determined by where the student lives. Because Ashley is living on campus, her parents' home insurance policy will likely cover her belongings in case of theft or fire. However, because she is going to school in a different state, her parents will need to make sure their home insurance covers her while she is at school in San Jose and find out if coverage levels will be reduced. Depending on the answers to those questions, Ashley may or may not need renters insurance. Mark on the other hand, will most likely not have his belongings covered by his parents' plan because he lives off campus. Mark should strongly consider getting renters insurance.
First Things First Before you get started, you want to check with your condo association to find out what their insurance covers. Frequently they will only insure the structure itself. This means that all your belongings and any interior structural items like cabinets, counter tops, and flooring may not be covered in their policy. Additionally find out what their deductible policy is. If damage is sustained to one or multiple units, the condo association will have a deductible that they are responsible for paying. Frequently they pass this on to the condo owners, meaning that if you caused the damage you may be responsible for the whole deductible. If nature is to blame, they may divvy the deductible up between the owners of the affected units.
After finding the right policy that works best by way of providing the right amount of coverage and at a price that is acceptable, homeowners can do even more to lower their home insurance by doing other commonly know things such as raising the deductible and seeking discounts. But there is still more that a homeowner can do to lower their home insurance that few have considered, that is to make specific home improvements that will cause insurance companies to lower the overall costs of insurance for the home. Undertaking home improvements to lower home insurance works due to the fact that when an insurance company issues a premium to a policy of coverage one of the main factors that contributes to the total amount is how big of a risk they consider the home to be. In other words, if a homeowner can make improvements to their home that will lower the risk taken by the insurance company to insure the home then the homeowner will be more likely to receive a lower premium on their policy.
Regardless of who you are and what you expect to have happen, remember to consider these three types of insurance when going to college or sending a child off to school. It may seem like one more thing to worry about, but can give you peace of mind, especially if the unexpected happens.
Renters Insurance Insuring your personal belongings is important, but often overlooked by young college students. The need for renters insurance is largely determined by where the student lives. Because Ashley is living on campus, her parents' home insurance policy will likely cover her belongings in case of theft or fire. However, because she is going to school in a different state, her parents will need to make sure their home insurance covers her while she is at school in San Jose and find out if coverage levels will be reduced. Depending on the answers to those questions, Ashley may or may not need renters insurance. Mark on the other hand, will most likely not have his belongings covered by his parents' plan because he lives off campus. Mark should strongly consider getting renters insurance.
First Things First Before you get started, you want to check with your condo association to find out what their insurance covers. Frequently they will only insure the structure itself. This means that all your belongings and any interior structural items like cabinets, counter tops, and flooring may not be covered in their policy. Additionally find out what their deductible policy is. If damage is sustained to one or multiple units, the condo association will have a deductible that they are responsible for paying. Frequently they pass this on to the condo owners, meaning that if you caused the damage you may be responsible for the whole deductible. If nature is to blame, they may divvy the deductible up between the owners of the affected units.
After finding the right policy that works best by way of providing the right amount of coverage and at a price that is acceptable, homeowners can do even more to lower their home insurance by doing other commonly know things such as raising the deductible and seeking discounts. But there is still more that a homeowner can do to lower their home insurance that few have considered, that is to make specific home improvements that will cause insurance companies to lower the overall costs of insurance for the home. Undertaking home improvements to lower home insurance works due to the fact that when an insurance company issues a premium to a policy of coverage one of the main factors that contributes to the total amount is how big of a risk they consider the home to be. In other words, if a homeowner can make improvements to their home that will lower the risk taken by the insurance company to insure the home then the homeowner will be more likely to receive a lower premium on their policy.
Regardless of who you are and what you expect to have happen, remember to consider these three types of insurance when going to college or sending a child off to school. It may seem like one more thing to worry about, but can give you peace of mind, especially if the unexpected happens.
About the Author:
The correct auto insurance policy can help get you back on the road quickly if your car is damaged with their San Jose based Umbrella Insurance. Campus Insurance, a San Jose insurance company, is in the business of keeping you protected.
0 comments:
Post a Comment