Commissioner Nickel Encourages Returning Students to Review Their Insurance Coverage
Commissioner
"You've signed up for classes and bought books but also make sure you're adequately covered by insurance," said Commissioner Nickel. "Students should keep in mind the importance of having the right type of auto, renter's and health insurance before they need to access the coverage because of an unexpected event."
Moving on to college or vocational/technical school is a major life event and it is important for students to check to see if they will still be covered under their parents' health, auto and homeowner's insurance or if they need to obtain their own coverage.
If you are attending college, the
If you cause an auto accident, you may be responsible for the losses of all other people involved in the accident including medical expenses, lost wages, and property damage. The amount of money you may have to pay could be substantial. Auto insurance can help protect you by covering these losses.
If you are driving a car your parents own, you should still be covered under their insurance policy. However, if you buy your own car, you will need an individual auto insurance policy. Likewise, if you ride a moped or a motorcycle, you should ask your agent for more information about moped or motorcycle insurance.
Remember, anyone operating a motor vehicle in
Renter's Insurance
Renter's insurance is typically overlooked by young adults moving out on their own. Like homeowner's insurance, renter's insurance provides coverage for the loss of property from risks like fire, explosion, vandalism, theft and other perils. Many policies will also provide temporary living expenses if your apartment is uninhabitable.
If you are renting, you need to be aware that your landlord's insurance only covers the building--NOT your possessions.
Under federal law, adult children up through age 26 will be permitted to remain on their parents' health insurance plan under certain conditions.
The Guide to
Additional Resources
There are many resources available if you have questions about obtaining insurance coverage. One option is to contact a licensed insurance agent or insurance company. You may also contact OCI with any insurance questions, concerns or complaints at ociaccess.oci.wi.gov/complaints/public/ or send an e-mail to [email protected].
Created by the Legislature in 1870,
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