What's The Deal: Insurance every college student needs

From applications to financial aid, if you're a new college student or the parent of one, you've had a lot to think about. And that could mean some important things get overlooked, like insuring a student's car, health, and property.

Here are a few things to know about campus insurance, from our friends at MoneyTalksNews.

College takes some getting used to. There's a lot to know and a lot to learn.

And one thing often left off the back-to-school list? Insuring that student.

Take cars, for example. If your student is going more than 100 miles from home and doesn't take their car, you might be able to get a discount on your insurance. If they do take their car, that could affect their rates.

Also something that can affect rates? Their grades.

"Going away to school and getting good grades is a good excuse to investigate whether or not you have a good student discount available through your company," says Allstate agent, Catherine Grady.

Another thing that needs a check-up is health insurance. Kids, up to 26, can be covered by their parents health plan.

But if you're confined to a group or network, your student will need a participating doctor near campus. They can also check out their school's health plan and medical facilities too.

And then there's stuff. Even if you think your child doesn't have much, it can add up.

If your freshman is in a dorm, your homeowners policy may cover their stuff, up to a limit. But if they're off-campus in an apartment, you're going to need a renter's policy.

Call your company and find out what the deal is.

"It's really worth it to look into it. It can be as little as $15 a month to cover your stuff," says Grady.

Bottom line? Before your student moves into that dorm, have them learn a life lesson by checking out the kinds of insurance that they're going to need.
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