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Insurance for College Students
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Insurance Guide for College Students
College students have unique insurance needs and opportunities. You may still be covered under parents’ plans for some things, but understanding your options helps you avoid gaps and save money.
At a Glance
- Health insurance is required at most colleges—stay on parents’ plan until 26 or use student health plans
- Renters insurance protects your stuff in dorms and apartments for about $10-15/month
- Auto insurance rates may change based on where your car is located and student discounts
- Life insurance is usually unnecessary unless you have dependents
- Parents’ policies may cover you for some things—check before buying
Health Insurance
Health insurance is your top priority. Most colleges require coverage, and a medical emergency without insurance can result in massive debt.
Option 1: Stay on Parents’ Plan (Until Age 26)
Under the Affordable Care Act, you can stay on a parent’s health insurance until you turn 26—even if you:
- Live in a different state
- Aren’t a tax dependent
- Are married
- Have access to your own coverage
What to check:
- Network coverage in your college area (are there in-network doctors and hospitals nearby?)
- Out-of-area benefits (some plans have limited coverage outside the home state)
- Prescription coverage for any medications you take
Option 2: Student Health Insurance
Many colleges offer student health insurance plans (SHIPs). These are designed for students and include:
- Access to campus health centers
- Coverage for the academic year (may require summer extension)
- Mental health services
- Prescription coverage
Cost: Typically $1,500-3,000/year, often billed with tuition.
When it makes sense:
- Parents don’t have coverage or you’re not eligible
- Parents’ plan has poor out-of-area coverage
- Student plan is more affordable than marketplace options
Option 3: ACA Marketplace
If you’re not on parents’ plan and your school doesn’t offer affordable coverage:
- Shop at Healthcare.gov (opens in new tab) during open enrollment (November-January)
- Catastrophic plans available to people under 30—low premiums, high deductible
- May qualify for premium tax credits based on income
Campus Health Centers
Most colleges have health centers that provide basic services at low or no cost, even if you’re on parents’ insurance:
- Minor illness treatment
- Mental health counseling
- STI testing and contraception
- Vaccinations
Renters Insurance
Your laptop, phone, clothes, and other belongings aren’t covered by your parents’ homeowners insurance once you move out—unless specifically included.
Why You Need It
- Personal property protection: Covers theft, fire, water damage to your stuff
- Liability coverage: If someone is injured in your apartment
- Additional living expenses: Temporary housing if your place is uninhabitable
What It Costs
- Dorms: Check if parents’ homeowners covers you as a student living on campus
- Off-campus apartments: Typically $10-20/month for $15,000-25,000 in coverage
What to Know
- Deductibles are usually $250-500
- Cover electronics specifically—they’re often the most valuable items
- Create an inventory (photos/video) of your belongings
- Some landlords require renters insurance
Dorms vs. Apartments
In a dorm: Parents’ homeowners policy may extend coverage to you (check policy limits and if electronics are covered)
In an apartment: You almost certainly need your own renters insurance
Auto Insurance
If you have a car at college, your auto insurance may need to change.
Car at School
If your car is with you at college:
- Update your address with your insurer—rates are based on where the car is kept
- Rates may be higher or lower depending on location
- Coverage continues, but you’re required to report the location change
Car Stays Home
If you leave your car at parents’ house:
- May qualify for distant student discount (typically if school is 100+ miles away)
- Reduced rates because you’re not driving daily
- Still covered when you come home and use the car
Student Discounts
Most insurers offer discounts for students:
- Good student discount: Usually requires 3.0 GPA or better
- Distant student discount: Car left at home while you’re away
- Driver education discount: Recent completion of driver’s ed
- Bundling: Staying on parents’ policy is often cheapest
Ride-Sharing and Car-Free Life
If you don’t have a car:
- You may still be covered occasionally driving parents’ car
- Ride-sharing (Uber/Lyft) and public transit are often sufficient in college towns
- Renting a car? Personal auto policy or credit card may provide coverage
Life Insurance
Most college students don’t need life insurance.
When You Might Need It
- You have dependents (children or others who rely on your income)
- Someone co-signed your student loans and would be responsible if you died
- You want to lock in low rates while young and healthy (term insurance is cheap in your 20s)
When to Skip It
- No one depends on your income
- Your student loans are federal (forgiven at death)
- You have no significant financial obligations
What About Policies Your Parents Have?
Parents sometimes have life insurance policies on children. These typically stay in place—you don’t need to do anything. If you want to take over ownership, discuss with your parents and the insurer.
What’s Covered by Parents’ Policies?
Before buying your own insurance, check what’s already covered:
| Coverage Type | Typically Covered? | Check For |
|---|---|---|
| Health insurance | Yes, until age 26 | Out-of-area coverage, network in college town |
| Auto insurance | Usually | Address reporting requirements, distant student discount |
| Renters (dorm) | Sometimes | Personal property limits, electronics coverage |
| Renters (apartment) | Rarely | You likely need your own policy |
| Life insurance | If parents have policy on you | N/A |
International Students
If you’re an international student in the U.S.:
Health Insurance
- Most schools require international students to have coverage
- School-sponsored plans are typically designed for international students
- Plans must meet J-1 or F-1 visa requirements
- Travel medical insurance ≠ comprehensive health insurance
Auto Insurance
- U.S. driving record starts fresh—expect higher rates initially
- International driver’s license may be accepted temporarily
- Need to obtain U.S./state license within required timeframe
Renters Insurance
- Works the same as for domestic students
- May need to provide passport or visa information
Student Insurance Checklist
- Health insurance: Confirm coverage before school starts
- Check network: Are there in-network providers near campus?
- Renters insurance: Get a policy if living off-campus
- Home inventory: Document your belongings with photos
- Auto insurance: Update address or confirm distant student discount
- Good student discount: Provide transcript for auto insurance savings
- Parents’ policies: Understand what does/doesn’t cover you
- Emergency contacts: Know your insurance info in case of emergency
Not Sure What You Need?
Take our free 2-minute quiz to get personalized insurance recommendations for your student situation.
Next Steps
- Verify health coverage—confirm you’re insured before the semester starts
- Get renters insurance—takes 10 minutes online, costs less than a pizza per month
- Check auto insurance—update address or confirm student discounts
- Create a home inventory—photograph valuables (electronics especially)
Similar Situations
- Insurance for Young Adults - Coverage after graduation
Related Checklists
- Going Freelance Checklist - Coverage guide for students starting independent work after graduation
Related Guides
Frequently Asked Questions
Can college students stay on their parents' health insurance?
Yes, the ACA allows children to remain on a parent’s health insurance until age 26, regardless of student status, marital status, financial independence, or whether they live at home.
Do I need renters insurance in a dorm or apartment?
Yes, renters insurance is recommended. Parents’ homeowners insurance may cover some belongings in a dorm, but coverage is limited and typically doesn’t apply to off-campus housing. Renters insurance is usually $15-30/month.
Is student health insurance worth it?
Compare your school’s Student Health Insurance Plan (SHIP) to staying on your parents’ plan. Consider costs, network access (especially if school is far from home), and coverage levels. Schools may require SHIP unless you show proof of other coverage.
Do I need auto insurance if I don't have a car at school?
If you’re on your parents’ auto policy and won’t have a car at school, you may qualify for a distant student discount. If you occasionally drive a car at school, you’re typically covered under your parents’ policy when driving with permission.
What insurance do international students need?
Most schools require international students to have health insurance meeting specific standards. Options include school-sponsored plans, private international student health insurance, or coverage from your home country if it meets requirements.
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State Insurance Guides
Insurance requirements, costs, and available programs vary significantly by state. Find state-specific resources to complement your insurance for college students coverage research.