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DIFS Reminds College Students, Parents to Consider Insurance Needs During Back-to-School Season
August 31, 2023
FOR IMMEDIATE RELEASE: August 31, 2023
(LANSING, MICH) As college students head to campus, the Michigan Department of Insurance and Financial Services (DIFS) is reminding them to review their insurance needs with a licensed insurance agent or company to ensure they and their belongings are adequately insured.
"College students are starting the semester and moving into dorm rooms, off-campus apartments, or other rented housing, and these changes may mean their insurance needs may have changed,” said DIFS Director Anita Fox. “It is critical that college students and their families discuss their situation with a licensed insurance agent or company to make sure they have the appropriate insurance coverage they need to protect themselves, their families, and their belongings.”
Though landlords will typically have their own insurance policy in place or require a property policy, such policies will likely only cover structural damage to the landlord's building or the landlord’s personal property. These policies will not cover the damage or theft of a student’s personal belongings. This means that, unless a renters insurance policy was purchased before the loss occurs, the student may be personally responsible for replacing or repairing their own items in the event they are stolen, damaged, or lost in a fire or severe weather event such as a tornado.
In addition to covering students’ personal belongings, renters insurance will help covered individuals find alternative living accommodations if their rented apartment or home is damaged by a storm, fire, or other covered peril. Renters insurance can also help protect a student if someone sues them for damages or injuries they or a family member cause on the rented property. Most renters insurance policies do not cover flood damage, so students should also consider adding a flood insurance policy to cover their belongings in the event of a flood. More information about flood insurance is available at FloodSmart.gov.
Students who are not living at home with their families should also discuss their auto insurance needs with their insurance agent or company. Students should not assume they are covered by a parent’s auto insurance policy without discussing and documenting their individual situation with their agent or insurer.
For questions about renters insurance or other types of insurance, visit Michigan.gov/DIFS or call 877-999-6442 Monday through Friday 8 a.m. to 5 p.m. Consumers may file a complaint against an insurance agent or company online by visiting Michigan.gov/DIFScomplaints.
The mission of the Michigan Department of Insurance and Financial Services is to ensure access to safe and secure insurance and financial services fundamental for the opportunity, security, and success of Michigan residents, while fostering economic growth and sustainability in both industries. In addition, the Department provides consumer protection, outreach, and financial literacy and education services to Michigan residents. For more information, visit Michigan.gov/DIFS or follow the Department on Facebook, Twitter, or LinkedIn.