Date: August 7, 2009
For more information contact: Jim Guidry, (608) 264-6239 or jim.guidry@wisconsin.gov

Commissioner Dilweg to college students: Remember insurance

Madison, WI—Soon, summertime fun will give way to September classes. Students will be heading off to college and Wisconsin Commissioner of Insurance Sean Dilweg reminds students to consider their insurance needs before they become too busy to think about them later.

Students and their parents need to check to see if they will still be covered under their parents' health, auto and homeowner's insurance, especially when moving to an out-of-state college.

"Students need to have their bases covered before leaving for college," said Dilweg. "The importance of having the right type of auto, renter's and health insurance during school cannot be emphasized enough. Students and their parents should spend some time reviewing their insurance needs."

OCI offers a short brochure entitled Insurance 101: A Guide to Insurance Basics for College Students, which offers tips on what to think about before leaving for school. So grab one of those notebooks and take a few notes:

Auto Insurance

If you are planning on taking a car to school, remember this:

If you take a car your parents own, you should still be covered under their insurance policy. If you buy your own car, you will need an individual auto insurance policy. Likewise, if you have a moped or scooter, you may want to ask your insurance agent for more information about moped insurance.

Renter's Insurance

If you live in a dorm, your possessions will still be covered under your parents' homeowner's policy. If you live in an apartment you need to be aware that your landlord's insurance only covers the building - not your possessions. Consider renter's insurance; it's usually fairly inexpensive and covers all of your belongings if they happen to be stolen, burned or carried off by a tornado.

Health Insurance

Many undergraduate students may still be covered under their parents' health plan. Check with your family's health insurance company to see if you are still covered. On the other hand, if you are dropped from your parents' group health insurance or are no longer a full-time student, both Wisconsin law and the federal COBRA law guarantee you the right to continue health insurance coverage. You can find more information on COBRA and the Health Insurance Risk-Sharing Plan (HIRSP) at www.cobrainsurance.com and www.hirsp.org.

You should also be aware that if you are on your parents' group or individual health insurance policy, you will still receive coverage if you cannot continue to attend school full-time due to a medically necessary leave of absence.

Beginning January 1, 2010, adult children will be able to stay on their parents' health insurance plan until they reach age 27 regardless of your school status. There are a few exceptions to this change. Be sure to check with your parents' insurer to be sure you qualify.

Important Notes:

• Read your policy.
• Shop around; it pays.
• Check to see if an agent or company is licensed before doing business with them.
• Call your insurance agent or company when you are having a problem.

For more information about student insurance needs, you may contact OCI at 1-800-236-8517 or by writing to OCI, P.O. Box 7873, Madison, WI 53707-7873. You can also visit our Web site at oci.wi.gov for valuable consumer information like the publication Insurance 101: A Guide to Insurance Basics for College Students.

Created by the Legislature in 1871, Wisconsin's Office of the Commissioner of Insurance (OCI) was vested with broad powers to ensure that the insurance industry responsibly and adequately met the insurance needs of Wisconsin citizens. Today, OCI's mission is to lead the way in informing and protecting the public and responding to its insurance needs.