Heading off to college means newfound freedom — and a whole new set of responsibilities. Between dorm move-ins, class schedules, and figuring out laundry, insurance probably isn’t top of mind. But whether a student is living on campus or in an off-campus apartment, driving their own car or relying on public transportation, having the right insurance in place can save a lot of headaches (and money).
Here’s a breakdown of the key types of insurance college students and their parents should consider.
Renters Insurance: Protecting Belongings Away From Home
College students often assume their stuff isn’t worth much — until it’s stolen or damaged. Laptops, phones, textbooks, and other electronics can easily add up to thousands of dollars.
On-Campus Students
If a student lives in a dorm, their belongings may be partially covered under a parent’s homeowners insurance policy. But don’t assume — coverage limits are often lower for off-premises items.
Check for:
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Off-premises personal property coverage
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Deductible amount
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Exclusions (theft, fire, water damage, etc.)
Off-Campus Students
Renters insurance is a must for students living in apartments or houses. It typically covers:
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Personal property (like electronics, clothes, furniture)
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Liability protection (if someone is injured in the rental)
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Additional living expenses (if the place becomes uninhabitable)
Policies are generally affordable — many start around $10–$20 per month.
Health Insurance: Stay Covered, Stay Healthy
Health care can be expensive, especially for students living away from home. Fortunately, there are a few different ways college students can get coverage.
Stay on a Parent’s Plan
Thanks to the Affordable Care Act, students can remain on their parent’s health insurance plan until age 26. This is often the most cost-effective and comprehensive option.
Things to watch for:
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In-network providers near campus
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Out-of-state coverage limitations
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Prescription coverage
School-Sponsored Health Plans
Many colleges offer student health insurance plans, which may be a good fit for those who don’t have access to a parent’s plan or who attend school out of state. These plans typically cover visits to the campus health center, mental health services, and emergency care.
Medicaid or Marketplace Plans
If a student isn’t covered through parents or the school, they may qualify for Medicaid or a subsidized health plan through the ACA marketplace — especially if they have a low income.
Auto Insurance: Driving While in School
Whether a student brings a car to campus or leaves it at home, their auto insurance should reflect their current living and driving situation.
If the Student Takes the Car to School
Let the insurer know about the new address. Location affects rates, and failing to report a move could lead to denied claims.
Look for:
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Good student discounts
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Distant student discounts (if the student is away from home and not using the family car)
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Multi-policy savings (bundling with renters insurance)
If the Student Doesn’t Bring a Car
They may still need to stay on a parent’s policy to keep continuous coverage — which helps keep rates low later. Plus, they’ll be covered when they come home and borrow the car during breaks.
Tuition Insurance: Is It Worth It?
Tuition insurance isn’t required — but it can be valuable in the right situations. If a student withdraws due to illness, injury, or mental health issues, tuition insurance can reimburse some or all of the tuition, fees, and room and board costs.
What It Covers:
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Medical withdrawals
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Mental health-related withdrawals
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Death of the student (some policies refund tuition to parents)
What It Doesn’t Cover:
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Academic failure
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Voluntary withdrawal
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Disciplinary dismissal
Policies typically cost about 1–3% of the total tuition cost.
Quick Reference: Insurance Needs by Living Situation
| Living Situation | Renters Insurance | Health Insurance | Auto Insurance | Tuition Insurance |
|---|---|---|---|---|
| On-campus dorm | Possibly covered under parents | Parents’ plan or school plan | Parents’ plan (no car at school) | Optional, depending on health risk |
| Off-campus apartment | Needed | Parents’, school, or marketplace | Own or parents’ plan (with updated address) | Optional |
| At home (commuter) | Possibly under parents | Parents’ plan or others | Parents’ plan | Usually unnecessary |
How Parents Can Help
Parents can play a big role in making sure coverage is up to date. Start by making a checklist before move-in day:
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Take inventory of valuables
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Talk to your insurance agent about student status
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Update addresses and drivers on policies
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Review school health coverage options
It’s also smart to involve students in the process so they start learning how to manage their own insurance in the future.
A Smart Start for College Life
Insurance might not be the most exciting part of starting college, but it’s one of the most important. A stolen laptop or unexpected ER visit is stressful enough — without having to worry about how to pay for it.
By reviewing coverage before the school year starts, students and parents can focus on what really matters: acing that first semester and enjoying the college experience.
Sources:
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National Association of Insurance Commissioners (NAIC)
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U.S. Department of Health and Human Services
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Healthcare.gov
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College Board
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Insurance Information Institute