COLLEGE
TRINIDAD NAVARRO
Insurance Commissioner
DELAWARE DEPARTMENT OF INSURANCE
302-674-7300 insurance.delaware.gov
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THE INSTANT
INSURANCE GUIDE:
2
A Message From
The Delaware Department
of Insurance
insurance.delaware.gov
302-674-7300
The Delaware Department of Insurance has compiled this
guide to help college students understand the types of
insurance that may be benecial to carry, may be benecial
to change, and how to make what you do have work for
you. Insurance is a eld that can be confusing for even the
most experienced person. Our goal is to provide you with
concise insurance information and ways to access more
information if you want it.
This guide covers renters insurance in addition to health
and automobile insurance. In the health insurance market
changes have come about because of the Affordable Care
Act (ACA, also known as Obamacare) which became law
in 2010. The ACA has experienced modications on the state
and national levels and we will continue to update this guide
as often as possible to reect the latest regulations and
guidelines. Whenever you have questions you can always
call our ofce or contact your insurance provider directly.
The Department of Insurance is here to serve you and if
you have any questions about insurance-related issues not
covered in this guide we will do our best to assist you.
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Table of Contents
Renters Insurance ...........................................................Page 4, 5
Health Insurance .............................................................Page 6,7
Automobile Insurance ...................................................Page 8, 9
Notes ..................................................................................Page 10
Dept. of Insurance Contact Information (Back cover) .. Page 11
Disclaimer: The Delaware Department of Insurance makes every
attempt to provide accurate and up-to-date information. If you need
further clarification with any auto insurance questions we suggest you
call your insurance provider or our office. This guide is not a substitute for
legal or professional advice. Information may change without notice.
4
Renters Insurance
The Basics
When you rent an apartment or home your landlord is responsible for
insuring the structure against damages caused by a re or such. Many
renters believe purchasing this type of insurance is unnecessary and that
the landlords insurance will cover the replacement costs of their personal
property. That is incorrect, the landlords insurance does not cover your
personal property against damages. Another reason is that they think
they don’t have enough things that would need to be insured. They also
underestimate the worth of their belongings. To protect your nancial
interests you may want to consider purchasing renters insurance.
Three main types of renters’ insurance coverage
Personal Property Coverage
Renters’ insurance policies offer coverage for theft, loss or destruction of
your personal belongings caused by re, storm, or other causes that will
be listed in your policy. This coverage will help you replace your day-to-
day items such as; clothing, jewelry, computers, appliances, etc.
When looking at this coverage you will need to decide if you want
the provision that covers actual cash value or replacement costs. For
example: you bought a television two years ago for $1000.00 and it is
stolen. If you resold it today the actual cash value would be $200.00.
However, the replacement cost covers the current cost of the same
model and size television, it does not depreciate the value based on age.
The difference in premium costs do not vary much. But if you have fairly
new items it may be better to spend a little more for the replacement cost
provision.
Liability Coverage
This coverage comes as part of your standard renters insurance. This
covers you if you are sued by a guest to your house or apartment. It will
also cover you if you or a family member cause damage to a neighbor’s
property. If a guest slips on your stairs due to a loose rug this insurance
may cover the medical bills. Or maybe your tub overows and soaks the
downstairs’ carpets, you’re covered.
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Renters Insurance (Cont.)
Additional Living Expense Coverage
While your landlord’s policy may cover damage to the structure
you will still need a place to stay. This coverage will help pay for
your temporary living expenses, such as hotel or motel and restau-
rant bills. These are charges you would not normally incur if you still
lived in your apartment or house. There will be limitations on the
amounts paid per day so you will need to check your policy or by
contacting your insurance company.
Do I need Renters Insurance?
If you live in a college owned housing you may have coverage for
personal belongs through the college and your parent’s homeown-
ers’ insurance policy. There are three questions to ask yourself when
deciding if you should purchase this insurance:
• How much is my stuff worth?
• Could I afford to replace everything?
• What would happen if someone was injured on my property
and sued me?
It is best to review your parents’ homeowners’ insurance policy with
their agent or directly with the company to see what specically
will be covered while living away at college.
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Health Insurance
The Basics
With the passing of the Affordable Care Act (ACA) or more commonly
known as Obamacare, there has been many changes to the health care
market. One of those changes is the ability to stay on your parent’s health
insurance plan up to age 26 years. If your parents do not have family
coverage or health coverage at all you may need to review your own
options. With the rising costs of medical care these days an unexpected
illness or injury could put you in deep debt and possibly ruin your credit
history.
Dependent Coverage on Family Plan
If your parent has a group employer policy that offers dependent
coverage they may be required to extend your coverage up to age
26. If this is the type of coverage you re enrolled in do not assume your
medical care will be covered while attending college out of state. If your
coverage is limited to a specic service area or state, such as an HMO,
you will not receive reimbursement for routine services or non-emergency
care. However, some insurance companies offer away from home
programs. You will need to contact the insurance company directly to
inquiry about any possible programs and to see how this plan will work for
you.
Individual or Self Coverage Plan
If your parent does not have health insurance that will cover you as a
dependent you may need to consider purchasing your own insurance
policy. Because of the ACA everyone is required to have health insurance
to cover the 10 essential health benets to avoid tax penalties. However,
if you are enrolled in a school sponsored plan you can avoid tax penalties
as these are considered grandfathered plans and not subject to the ACA
requirements. Please note that many colleges require proof of insurance
at time of enrollment or you may be required to enroll in their school
sponsored student health insurance plan (SHIP).
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Health Insurance (Cont.)
Family Plan
Parents pay the premiums
and may be less costly
Parent does the enrollment
Can stay with family doctors
Provides full service coverage
May have limited coverage
when out of state
Parents get the EOB showing
services receiving
May lose coverage if
parent loses their job
Does not require
full-time student status
Individual or SHIP
You pay the premiums
and could be more costly
You do the enrollment
May have to nd new doctors
SHIP may have limited service coverage
Medical services available
on campus or near by
Condential care as you
receive the EOB
Keep coverage as long as
you pay the premiums
SHIP may require full
-time student status
Coverage Options: Advantages and Disadvantages
While many college students are often referred to as the “Young
Invincible” they are still vulnerable to illness and accidents. It is important
to know your options when making these decisions. Above are a few
differences in the types of policies available. Compare the different
policies to make sure you are getting the fullest benets available. While
most plans offer coverage for emergency care everywhere other plans
may be limited to specic service areas for the follow up care and non-
emergency care.
*Emergency medical conditions involve immediate onset of symptoms,
including pain, severe enough to lead a person with an average
knowledge of health and medicine to believe immediate medical
attention is needed to avoid a serious impairment of bodily functions or
serious dysfunction of a bodily organ or part.
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Automobile Insurance
The Basics
In Delaware, as all other states, drivers are required to carry automobile
insurance. If you are planning on going to a college out-of-state and
taking your car with you, you must make sure you meet all the minimum
requirements of the state you will be living in. The minimum requirements in
Delaware are:
Bodily Injury Protection - $25,000/$50,000
If you are responsible for the injury or death of another person and have
minimum coverage, your insurance company will pay:
• Up to $25,000 to one person involved in a single accident
• Up to $50,000 to all people involved in a single accident, with no more
than $25,000 to any one person
Property Damage - $10,000
If you are responsible for damages to another person’s property and have
minimum coverage, your insurance company will pay:
• Up to $10,000 to a person involved in a single accident
Personal Injury Protection (PIP) - $15,000/$30,000
Whether you are responsible for the accident or not, your insurance
company will pay for the medical expenses and loss of wages for you and
your passengers. If you have minimum coverage, your company will pay:
• Up to $15,000 to any one person involved in a single accident
• Up to $30,000 to all people involved in a single accident, with no more
than $15,000 to any one person
*Also included in PIP coverage is up to $5,000 for funeral expenses
Don’t Drive Uninsured: Driving without insurance is against the law and
leads to higher insurance premiums for the drivers who play by the rules.
Registered vehicles are randomly checked for coverage and insurance
companies will notify the state if coverage is dropped. Driving without
insurance can cost you a ne, your license plate or your driver’s license.
9
Auto Insurance (Cont.)
How To Decide?
Leaving the car at home: Even if leaving your car at home you need
to decide if you should keep your parent’s coverage or drop it. Many
companies allow young adults to remain on their parents’ policies as
long as the car title lists at least one parent, the young adult still lives at
home or is a full-time student. Generally, it is recommended to keep your
coverage active on your parents’ policy for many reasons:
• Covered when home visiting
• Covered when driving a friend’s car with limited coverage
• Lower premiums (the cost of the policy)
There are ways to save on the premiums while in school. Listed below are
some of the options available that may vary by companies. Your parents
should discuss ways to save insurance costs with their agent.
• Occasional Driver Discount
• Good Student Discount
• Distant Driver Discount
Taking the car with you: If your college allows you to bring your car with
you, you will need to review your options for insurance coverage to
make sure you have satised the new state’s minimum coverage rules. In
addition, your current coverage may need to be increased. While it is not
often required, some companies may require you to enroll in a separate
policy which may have a higher cost when the car will be located in
another state. However, the above discounts may still apply.
When making your decision we suggest you discuss your options with
a licensed agent. It may be helpful to get at least three different car
insurance quotes to see which will offer the best rates for the coverage
you will need. If you remain with your current carrier and policy, you
will need to notify your insurance company where your car will now be
located.
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THE INSTANT
INSURANCE GUIDE:
AUTO
NEW
INFORMATION
FOR 2018
TRINIDAD NAVARRO
Insurance Commissioner
DELAWARE DEPARTMENT OF INSURANCE
302-674-7300 insurance.delaware.gov
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Delaware Department of Insurance
insurance.delaware.gov
302-674-7300
Insurance Commissioner’s Ofce
“Protecting Delawareans through regulation and
education while providing oversight of the insurance
industry to best serve the public.”
The Delaware Insurance Commissioner’s Ofce is here to
help if you have questions about or problems with your
insurance coverage or insurance company.
Questions about insurance or complaints about an
insurance company or insurance agent can be made
to the Consumer Services division by phone, by fax, by
letter, by email or with an online complaint form:
Phone: 1-800-282-8611 (Toll-free in Delaware)
or 302-674-7300
Fax: 302-739-6278
Email: consumer@delaware.gov
1351 W North St STE 101.
Dover, DE 19904
Visit the Delaware Department of Insurance website to
nd more information and tips about auto insurance
and the services we provide at insurance.delaware.gov
