Parent Home > Money Matters > Insurance


Q: What kind of insurance does my student need to protect her computer, stereo, and other personal possessions?

A: As students review their to-do lists and begin packing for the move to a residence hall or off-campus apartment, they should also be thinking about how to insure their possessions in their new home. Parents might want to help their students go over their options.

Many parents choose to add their college student to their existing homeowner’s policy. This is often the less expensive option, as long as the student’s primary residence remains the parent’s home. If your student rents an apartment, however, the insurance company will likely consider that to be his primary address.

Downsides to adding your student to your homeowner’s policy may include the need to add a rider to your policy, the possible effect of claims made by your student on your insurance policy and rate, and the possible inadequacy of coverage due to caps and high deductibles.

Renter’s insurance is another possibility for your student and you to consider. This will allow you to tailor coverage for your student’s specific needs, and prevent claims made by your student from affecting your own insurance policy. For students who do not live permanently with their parents, renter’s insurance is likely their only choice to insure their belongings.

Whichever option you choose, a few things to consider:

  • What situations are included and/or excluded from the policy? Does it cover damage from fires or floods?
  • Does the policy cover replacement or the actual value of the property? Electronics like computers, televisions, cameras, etc., depreciate significantly over time. A policy that only covers the actual value of a stolen or damaged item may not provide your student with enough money to replace it.
  • Does the policy cover liability claims?

How can you and your student make the best decision for both of you? Carefully review your options with your insurance broker or agent.

Q: Does my student need to have the U of M health insurance to use the Boynton Health Service?

A: Students who pay the Student Services Fee are eligible to receive most services at Boynton at no cost, although some services do require a fee. All students are also required to have current health insurance (also called hospitalization insurance. The costs of surgery, emergency treatment, and hospitalization are not covered by the Student Services Fee. Students who are not covered by a parent’s health insurance or who do not have health insurance from another source will be automatically enrolled at the time of registration in the University-sponsored Health Benefit Plan. For more information, see Student Health Benefits.