College students face many new risks as they head off to school, like theft of personal property and increased chance of auto accidents due to driving long distances. College and university campuses are not immune to property crime. And when it came to getting behind the wheel, student drivers didn't fare so well. At least one in 10 college students revealed that they caused an auto accident in the last two years and one in four said they recently received a speeding ticket or other moving violation, according to the new survey. And contrary to popular belief, insurance can be very affordable.
Health insurance is another tricky issue for college students and parents.
The survey revealed that 84 percent of college students and their parents either don't know or mistakenly believe that the student's health insurance will cover them when they travel or study abroad. In fact, many health insurance policies limit health coverage to the United States. Many parents and students also are not aware that once a student is over the age of 18, he can often be covered by a parent's health insurance only if he is a full-time student. And once a student reaches age 23, that student will usually lose coverage under a parent's policy regardless of enrollment status. The IIAA and CPA advise students and parents to visit an insurance professional to discuss student insurance needs like auto, health and renters.