If you are sending your child off to college this fall, you have likely been quite busy this summer. Collecting necessities for the dorm, making sure all medical appointments are completed, and squeezing in a few last family memories have probably taken up a lot of time. One thing you don't want to overlook is protecting your child's assets while they are living away from home. The following can help you understand the insurance needs your adult child has once they are away at school.

Health Coverage

Most universities require that students living on campus have some sort of health insurance. The good news is that if you have medical insurance, then your adult child can remain on your policy until they are 26 years old. For parents without insurance, your child may qualify for their state's Medicare policy, but you may also need to apply depending on the local regulations for parents of adult children in college. Many universities also provide low cost student health policies for those who will be living in the dorms. This is especially true if the school has a student health center.

Auto Insurance

If you will be sending your child off to college with a car, then they will need to have auto insurance. Once again, you can likely leave them on your policy and simply list their dorm address as a temporary address for just their vehicle. This way, your child will benefit from the insurance discounts that you likely receive from your greater age and experience as well as any discounts from things like homeownership, combined policies, or professional agreements. Your child may also still be able to qualify for good student discounts while they are in school.

Property Damage

The great news here is that your homeowner's insurance should more than cover your child's property while they are living in the dorms on campus. You do need to contact your agent. Some policies require that you provide an itemized list of the valuable items, like computers, that your child is taking with them. Or, the policy may provide a limited amount of coverage for items outside of the home, so you may want to purchase an umbrella policy if your child will have some high-value items that exceed the coverage amount. Also, keep in mind that your homeowner's insurance only covers your child if they live in the dorms. If they get their own apartment, you will need to purchase them their own renter's insurance policy.

Contact an insurance agency like Gulf Coast Insurance for more help.