Here are some practical insurance tips for college students to help protect their health, property, and finances while staying on budget:
- Health Insurance
What to Do:
- Stay on Parents’ Plan: You can stay on your parents’ health insurance until age 26 (thanks to the ACA).
- University Plans: Many colleges offer student health insurance plans — compare coverage and costs.
- Marketplace Plans: If you’re independent, explore healthcare.gov or your state’s marketplace.
Tips:
- Use your school’s health clinic for routine care — it’s often free or low-cost.
- Always check if a provider is “in-network” before treatment.
- Renters Insurance
Why You Need It:
- Covers your stuff (laptop, clothes, etc.) in case of theft, fire, or water damage.
- Often required if you’re renting an off-campus apartment.
Tips:
- If you live in a dorm, you may be covered under your parents’ homeowners insurance — check with their provider.
- Policies can be as cheap as $10–$20/month.
- Car Insurance
If You Have a Car:
- Stay on your parents’ plan if possible — usually cheaper.
- Notify your insurer if you’re attending school out-of-state.
Tips:
- Ask about a “good student discount” (typically for a GPA of 3.0+).
- If you’re not bringing your car to campus, ask for a “student away at school” discount.
- Electronics Protection
Options:
- Renters insurance usually covers electronics, but check coverage limits.
- Consider device insurance for expensive items like laptops and phones.
Tips:
- Keep receipts and serial numbers in case you need to file a claim.
- Life Insurance (Optional)
- Usually not necessary unless you have dependents or large student loans with a co-signer.
- If you do need it, term life insurance is cheap and adequate.
- Identity Theft Protection
- College students are prime targets for identity theft.
- Some renters or bank accounts include this protection — or get a separate service if you’re concerned.
- Understand Your School’s Coverage
- Some colleges automatically enroll you in their health plan and charge you unless you opt out.
- Always review any tuition insurance or required fees tied to insurance.
Quick Tips Summary:
| Type | Tip |
| Health | Stay on parents’ plan or use school clinic |
| Renters | Covers your stuff in dorms/apts |
| Car | Use discounts and notify insurer if car isn’t on campus |
| Electronics | Ensure laptops/phones are covered |
| Life | Usually not needed unless you have dependents |
| ID Theft | Monitor credit and use protection services |
Navigating college life comes with new responsibilities, and insurance is one of them. This blog offers essential tips to help students understand the importance of various types of insurance—health, renters, auto, and even tuition insurance. From staying on a parent’s plan to finding budget-friendly student options, we break down what coverage is necessary, how to shop smart, and how to avoid common pitfalls. Whether living on or off campus, these practical tips ensure students are protected without breaking the bank.