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Lakewood, CO 80227
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August Means... School Time!
Provided By: Safeco Insurance
HOMEOWNERS (may vary by state and individual policy)
o Coverage of personal property: Most homeowners policies provide 10 percent of Coverage C
(Personal Property) for property owned by an insured that is at a residence other than the
insured's. For example, if the contents of a policyholder's home are insured for $100,000, a
student's property up to $10,000 would be covered if living in a dormitory - provided the damage is
caused by a covered peril and the student meets the definition of an insured.
o For apartments or houses off-campus, the same coverage generally applies. Certain items,
such as jewelry or expensive electronics, may require special coverage, or a "rider." Renters
insurance is strongly recommended if a particular policy does not cover a student's personal
o Liability coverage: There usually is an exclusion for damage to property rented to an insured, so
generally damage to a dorm room or apartment would not be covered.
o Ensuring adequate coverage: Contact us to get specific answers and information about your
coverages. Also, it's a great idea to create an inventory of the items your student is taking to school,
as is keeping photos of and receipts for the items.
o Renters insurance: If your student's needs can't be met under your current policy, don't forget
renters insurance. Landlords' policies generally only cover the structure, not the possessions of
AUTO (may vary by state)
o Coverage without a car at school: If your student will continue to drive while at home on school
breaks, they should continue to be listed on your auto policy. If they are attending school more than
100 miles from home, and are not taking a vehicle with them, the policy may qualify for a
o Coverage with a car at school: In most instances, a car registered to parents and listed on their
policy will be covered if used by a listed student away at school. But you should make sure that
your insurance carrier writes coverage in the college's state and location. And note that a change to
the principal location of the vehicle could result in a change in premium.
o Driving a friend's car at school: Students generally would be covered while driving a friend's
car if the students are listed on their parents' policy and do not have regular use of the vehicle. The
coverage would likely be secondary in this case, as the carrier for the friend's vehicle likely would
be the primary coverage.
o Coverage discounts: In addition to the possible distant-student discount mentioned above,
students may qualify for a good-student discount. To qualify, most insurance carriers require that a
student must be enrolled in at least four courses per term as a full-time student at an accredited
college or university and meet certain academic qualifications. Also, drivers under the age of 21
who complete a driver education course may be eligible for a policy discount.
Going away to school is an exciting time for both students and their parents. Making sure you've got
the right insurance coverage can help you protect your assets as you invest in your child's future.
We're happy to discuss your coverage and options - just give us a call or stop by!
College is expensive enough without finding out too late
that an accident or theft isn't covered under your
current policies. So, as you get your children ready to
head off to school in the fall, there's one vital "to-do" to
add to your list (other than writing that tuition check): a
review of your insurance coverage. It's important to
keep in mind that policy language varies from state to
state, and there are never "one-size-fits-all" situations,
but below is a general guide. If you have questions, or
want to go over your insurance needs, don't hesitate to