DCI News

Jefferson City, Mo – With summer ending, getting back into the swing of a school routine can have its challenges – especially if this means moving away is part of the plan. In addition to basic daily needs and back-to-school supplies, the Missouri Department of Commerce and Insurance (DCI) recommends that college and technical school students and parents review any current insurance policies for upcoming and changing needs.

“As you navigate a new life experience and prepare for this major milestone, it’s important to begin familiarizing yourself with some of the important financial decisions you will need to make,” said Chlora Lindley-Myers, Director of the Missouri Department of Commerce and Insurance. “Insurance can be an additional safety net for you and your family if an emergency happens.”

Health insurance 

Most health insurance policies cover unmarried dependents up to the age of 26. Check with your health insurer or benefits administrator about out-of-network benefits and the availability of telehealth or other virtual care. Any questions concerning eligibility can be directed to DCI’s Insurance Consumer Hotline at 800-726-7390.

Know your policy 

Before leaving home, consumers should take current copies of their insurance cards with them. If insured by a health maintenance organization (HMO), check to see if the new place of residence is outside the HMO service area. If this occurs, there is likely coverage for emergency care, but travel may be required for routine care by a physician or hospital within the HMO service area. Check your plan provisions or talk to your insurer to find out what level of benefits your policy provides. 

Student health insurance plans 

If the network service area limits a student’s healthcare coverage, another potential option is a student health insurance plan. These plans are sold by an insurer contracted with the college or university to offer coverage to its students. These plans generally have more limited benefits and exclusions than traditional health insurance plans. Typically, these policies will also exclude routine examinations and injuries sustained while under the influence of alcohol or drugs. 

Renters insurance 

Many consumers bring thousands of dollars worth of personal items when they move away – electronics such as mobile devices and computers, clothing and shoes, furniture and decor, kitchen utensils and cookware, books and office supplies, and even a bicycle or other personal transportation device. Homeowners policies may cover students' belongings if they will live on campus. Check with your insurer to confirm items are covered under the current policy, otherwise, consider renters insurance for more protection against damage or theft if living elsewhere.

Personal possessions inventory 

A comprehensive list of possessions – including purchase prices, model numbers, and serial numbers – will help you decide how much renters insurance is needed. Having a detailed inventory in case of disaster is also a good idea, as it will help when filing an insurance claim following a catastrophe. Make sure to take photos or videos of the possessions and store the list in a secure location elsewhere. Download DCI’s easy-to-use Home Inventory Checklist: insurance.mo.gov/consumers/home/documents/HomeInventoryChecklist.pdf

Auto insurance 

A significant move away from home can greatly impact your auto insurance policy. If the student is taking a vehicle with them to school, review the existing insurance policy with your agent. Ask about the rates for the new city/state before deciding whether to keep your student's car on the family's auto policy. In addition, check to see if the insurance company offers a discount for students who maintain good grades. 

For any insurance questions, Missouri consumers can call DCI’s Insurance Consumer Hotline at 800-726-7390, or visit insurance.mo.gov/consumers/.

DCI is charged with protecting Missouri consumers through oversight of the insurance industry, banks, credit unions, utilities and various professional licensees operating in the state. For more information about the department, please visit our website at dci.mo.gov.