Moving out on your own is an exciting time. Your own place, your own car—the freedom can be exhilarating. But with independence comes responsibility, and that can be stressful. Here’s what you need to know about insurance, from what your parents’ homeowners policy may cover to renters insurance and auto insurance.
When hauling laptops, iPads, and iPhones into your dorm room, start thinking about insurance. The number of insurable risks faced by college students has increased with the advent of new (and portable) technology.
Most homeowners insurance policies cover items like computers or other digital devices stolen from dorms. But it may not cover everything, especially if you live off campus, and there’s often a deductible. Before you move out, double-check your parents’ policy, and if needed, include items that are easily lost or stolen in their valuables policy, which often has no deductible.
Renting off campus? You may think you don’t need insurance, but think again: your landlord’s insurance typically doesn’t cover your personal property. So what happens if there’s a fire, theft, or flood? The responsibility falls into your lap. Without renters insurance, you’ve got zero coverage for personal property loss or damage. Luckily, the GEICO Insurance Agency can help you find an affordable renters insurance policy that protects your valuables.
Moving out? It may be time to get your own auto insurance policy. Here’s the good news: you can easily transition from your parents’ policy to your own policy with GEICO’s special Family Pricing Program, available in most states.
All that freedom can lead to lots of fun, but there are risks, too. For instance, what if a guest is injured in your apartment? Luckily, GEICO can find a renters insurance policy with liability protection, which covers injury to another person in your unit. Make sure you’re covered, to keep the good times rolling.
Did you know GEICO has Good Student and Good Driver Discounts? If you have been accident-free for five years or maintain a B average or better, you may qualify for a discount. Get a quote today and see how much you could save.