Types of insurance every college student needs

Going to college is really expensive and there are many fees you need to pay. Make sure you don’t overlook a very important one: insurance.

It’s easy to forget things when you are getting ready for college: between admission fees, moving in, college tuition and back-to-school shopping, you have so much on your plate that it is really easy to forget about one critical thing: insurance.

Here are three types of insurance you will need —and how to save money on them.

Car insurance

If you drive, this is a must. It can be pretty expensive, but if you leave the car at home while attending college, you might save some money. Contact your car insurance company and see if you qualify for a “distant student” discount. You will still be covered as an occasional driver any time you go home for visits.

You might also get an additional discount for good grades. This can vary depending on the insurance company and the state, but if you maintain a B average (or better) you might get a break.

Health insurance

Thanks to the Patient Protection and Affordable Care Act, a full time student could be cover by a family health plan until age 26. However, it is important to find a participating doctor near your campus. 

Also, keep in mind that vaccinations are often required for college admission, but many of them are covered by the Affordable Care Act, so make sure to check!

Property insurance

Students usually have a lot of valuables, such as laptops, smartphones, iPads, bicycles, TVs, etc. And accidents or burglary can happen anywhere, even in college campus.

If you are living in a dorm, your homeowner policy will probably cover all of your stuff. Make sure you check with your insurance company. However, if you live in an off-campus apartment, you might need to include renters insurance in your budget. Shop around to see what different companies offer!
 

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