Insurance for college students in North Carolina

Where your student lives determines a lot about their insurance situation:

• Dorm, most parents' homeowner's policies extend personal property coverage to a student living on campus, but typically capped at 10% of Coverage C (personal property limit). On a $100k policy, that's $10k, which may be sufficient for a dorm room.
• Off-campus apartment, the parents' policy generally does NOT cover a student living off-campus. The student needs their own renters policy.
• Renters insurance cost, typically $10-$20/month. One of the best coverage values available.

If your student drives a car registered to the parents and lives at the same address, they're typically covered under the parents' policy as a household member. Things get more complicated when the student:

• Moves to a different state (may need to be added separately or get own policy)
• Establishes a permanent address away from home
• Purchases their own vehicle

NC also offers a good-student discount (typically 10-20%) for full-time students with a B average or better. Make sure your agent is applying it.

• Health insurance, under the ACA, young adults can stay on parents' health insurance until age 26.
• Electronics and valuables, expensive laptops, cameras, and instruments may exceed standard renters policy sublimits. A scheduled personal articles endorsement provides broader coverage.
• Bicycle theft, often covered under renters insurance, but sublimits and off-premises coverage vary by carrier.
• Life insurance, minimal need for most students unless they have co-signed student loans. If parents co-signed, a small term policy on the student may make sense.