Summer is over and the new semester is about to begin.
As a parent of two college students and a recent graduate, I understand how exciting this time of year can be for students and parents.
Whether you’re a recent high school graduate heading off to college or a nervous parent preparing for your child’s first day, it’s important to make sure your insurance policy is adequately covered for the whole family.
During this busy time, I would like to remind the people of Oklahoma that having the right insurance can give them greater peace of mind year-round and protect their families from financial disasters.
Here are some insurance tips for parents and students to consider before heading to school.
House
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If a student moves into a dorm room, homeowners insurance may apply in case of lost belongings.
Let your child know when you buy a new computer or other expensive item. You should check with your insurance company to see if your insurance handles these things.
Students living off-campus should consider rental insurance. This insurance protects student belongings and protects them if someone is injured on the premises.
Renters insurance premiums range from $15 to $30 per month, depending on the location and size of the rental unit and the value of the property. Whether they live on-campus or off-campus, an inventory of homes is a good idea. A listing of items will make future insurance claims faster and easier to resolve.
automatic
Oklahoma requires that all vehicles have liability insurance or meet the financial liability requirements of Oklahoma law.
Compulsory automobile liability insurance will pay for property damage and bodily injury to others, up to policy limits, if you are found to be responsible for the accident.
If car ownership is in the student’s name, the student must have their own policy. If your college student is driving a car you own, your child can probably stay on your policy.
If a student commute to college without owning a car, they may be eligible for a “student out of school” auto insurance discount. Please check with your insurance agent or insurance company and let them know where your car will be stored if the address is different than what is stated in the policy.
health
Students have several options for obtaining health insurance while away from college. If your child is currently covered by your insurance, it may be covered while you are out of school. An insurance plan that provides dependent coverage should be available until the dependent reaches the age of 26.
Many colleges and universities also offer their own student health insurance plans. Premiums and features vary greatly by school. Check with your student’s school’s health center to see available coverage options.
Denial of insurance claims
If your family experiences a denied claim or a settlement discrepancy, you can file a complaint at oid.ok.gov. The Oklahoma Department of Insurance’s Consumer Assistance Team mediates claims between policyholders and insurance companies.
If you have questions about any other insurance issue, please contact the Oklahoma Department of Insurance at 1-800-522-0071 or visit our website.
Glen Mulready is the insurance commissioner for Okahoma.
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