Is your college student insured properly?

You sent your student off to college, but did you consider your insurance coverage? Do you have proper coverage for their car, electronics and other belongings? These are just some of the items that your student may have while away at school.

While many items like tablets, smart phones, TVs, musical instruments and bikes may come to mind, the value of other possessions are easy to discount. When you factor in clothing, shoes and many other personal items, it doesn't take long to tally up a thousand dollars or more worth of belongings.

Most college students who live in campus housing typically have some coverage under a parents' homeowners policy, but that coverage may be limited to 10 percent of the policy's total coverage amount (example: $10,000 on a $100,000 policy). If your student is renting, it's likely they will need their own policy.

Also, if your student isn't taking a car along to school, check with your insurance advisor to be sure you're receiving all eligible discounts. Depending how far from home they go to school, you may be able to save on your premiums while they're away without access to vehicles on your policy.

Make sure you're protected

It can be a hectic and exciting time getting your student off to college. You can reduce some of the stress by ensuring your student has the proper insurance to cover potential losses while their away. Talk with a Think Insurance Advisor at 1-800-443-6316 for help determining what types of coverage, if any, you should consider.


Insurance products are offered through Think Insurance (MN license # IA-538), not Think Mutual Bank. Insurance products are not FDIC insured, are not insured by any federal agency, and are not a deposit or guarantee of Think Mutual Bank.
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Insurance products are offered through Think Insurance (MN license # IA-538), not Think Mutual Bank. Insurance products are not FDIC insured, are not insured by any federal agency, and are not a deposit or guarantee of Think Mutual Bank. This is not a policy. For a complete statement of coverages and exclusions, please see the policy contract.

The Investment Professionals of Think Financial Planning are Registered Representatives and Investment Adviser Representatives with/and offer Securities and Advisory Services through Commonwealth Financial Network, Member FINRA/SIPC, a Registered Investment Adviser. Fixed insurance products and services offered by CES Insurance Agency. Investments are not FDIC insured, not bank guaranteed, not insured by any federal agency and may lose value. Check the background of this firm on FINRA's BrokerCheck. Think Financial Planning is headquartered at 5200 Members Pkwy NW, Rochester, MN 55901.

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