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Essential Home and Car Insurance Tips for Parents of College and University Students

Date updated: 2026-05-15

TL;DR – Do college or university students need their own insurance?

They might. A post-secondary student’s insurance needs change depending on where they live, if they are financially independent and whether they drive. Understanding these differences helps parents and students avoid coverage gaps during major transitions.

  • Living Situation Matters: On‑campus, off‑campus, and commuter students all have different home insurance needs. Some students may remain covered under a parent’s policy, while others may need tenant insurance.
  • Auto Coverage Can Change: Driving frequency, vehicle location, and whether a student takes a car to school can affect how they should be listed on an auto policy.
  • Watch for Life Changes: Moving, changing enrolment status, or becoming financially independent can all trigger the need to review and update home and car insurance coverage.
  • TD Insurance Student Support: Eligible students may qualify for discounts and tailored tenant and auto insurance options.

Bottom line: Review your coverage as your student’s life evolves to ensure they’re protected at home, on campus, and on the road.

Sending your child off to university or college is a major milestone, whether they're moving into on-campus housing, renting their first apartment, or commuting from home. According to the Insurance Bureau of Canada, many students underestimate the financial risks of living away from home, leaving them exposed to losses that could prove costly1. Between course schedules, meal plans, and move-in details, there's an important part of planning that often gets overlooked: making sure the right insurance coverage is in place.

The good news is that understanding how car and home insurance work for students doesn't have to be complicated. The key is understanding how coverage works based on where your child lives, how often they come home, and whether they drive their own vehicle, or yours. This guide is designed to help parents connect the dots so you can feel confident your child is protected, wherever their school journey takes them.

Why Coverage for Your Child Isn't One-Size-Fits-All

A student's insurance needs can change based on their living situation and level of independence. In some cases, coverage may continue for students under a parent's policy, in others, it may be time to update existing coverage or purchase something new altogether. Understanding the difference can help prevent coverage gaps and avoid unpleasant surprises down the road. 

That's also why the question: "How much is insurance for a new student?" can be so difficult to answer.  Every student's situation is unique, and their coverage needs reflect that. Ultimately, the best car and home insurance for your soon-to-be student, is the one that works for them – and for you.

The examples below show how car and home insurance may apply based on where your student lives and how often they drive.

The On-Campus Student

If your child lives on campus and is financially dependent on you, their belongings and personal liability continue to be covered under your TD Insurance home policy if:

  • You live in the home insured under the policy
  • They are full-time student
  • You cover most of their living and school expenses

Tip: Tenant insurance can help avoid coverage gaps if the student becomes part-time or financially independent.

If your child does not bring a vehicle to campus and only drives occasionally when home:

  • No policy changes may be needed
  • Ensure they are listed as an occasional driver
  • Review usage if driving patterns change

Tip: Even limited driving should be reflected accurately on the policy, so the policy matches how the vehicle is actually used.

  • Create a simple inventory of belongings before they move in to make it easier to confirm what they own if something is lost, damaged or stolen.
  • Use inventory apps available through Apple or Google Play.

If your child is listed as an occasional driver on your policy and lives more than 80 km from school, they may be eligible for:

  • Occasional Driver Discount (Ontario, Alberta)
  • Student Away Discount (Nova Scotia, New Brunswick)

Student Discount (Newfoundland, Prince Edward Island)

The Off-Campus Renter

If your child rents an apartment or room and is financially dependent on you, their belongings and personal liability continue to be covered under your TD Insurance home policy if:

  • You live in the home insured under the policy
  • They are a full-time student
  • You cover most of their living and school expenses

Tip: Tenant insurance can help avoid coverage gaps if the student becomes part‑time or financially independent.

If your child takes a vehicle to school, even temporarily, it's important to review their policy to help ensure they're properly covered if something happens:

  • The policy must be updated
  • They should be listed as the primary driver
  • The vehicle’s address and usage should be reviewed

Tip: Changes in location or routine are a good time to also reassess your coverage.

Only your child is covered by your policy. If their rental situation involves multiple roommates, everyone should be named on the lease and have their own insurance coverage.

TD Insurance offers a tenant insurance package designed for full‑time students that includes:

  • Contents coverage
  • Liability protection
  • Additional living expenses

This is often required by landlords and is quick to set up. TD Insurance offers options to support your child's changing home and auto insurance needs, including savings on car and tenant  insurance through preferred rates, available to eligible institutions.

The Commuter Student

If your child lives at home while attending school, they are covered under your TD Insurance home policy provided that:

  • Your home is insured under a home insurance policy
  • The home is your primary residence
  • Your child lives with you at the insured location

Tip: In this case, coverage applies regardless of enrolment status or financial dependency.

If your child regularly drives to school, work, or co‑op placements, it's important to review their policy to help ensure they're properly covered if something happens:

  • Driving frequency should be accurately reflected
  • Usage type (school, work, commute) should be reviewed
  • Small routine changes may impact coverage

Tip: Periodic reviews help ensure the policy stays aligned with daily habits.

  • Support safe driving with winter tires and regular vehicle maintenance.
  • Keep an emergency kit in the vehicle year‑round so you're ready for the unexpected at any time.

If your student continues to live at home:

  • They remain automatically covered under your TD Insurance home policy
  • No additional home insurance changes are needed

A Simple Planning Checklist for Parents.

As the year unfolds, it's a good idea to revisit your coverage to ensure your student is still covered if any of the following apply:

  • Switches housing
  • Goes from being a full-time student to a part-time student
  • Starts driving to school
  • Starts a new job, co-op, or placement
  • Becomes financially independent

TD Insurance offers options to support your child's changing home and auto insurance needs, including savings on car and tenant  insurance through preferred rates, available to eligible institutions.   Log into MyInsurance to review or update your policies or contact us to speak with a licensed advisor for personalized guidance.

Supporting Your Student's Independence, With Confidence

Post-secondary life is full of firsts; first lease, first long commute, first taste of independence. Insurance planning doesn’t have to be another stressor along the way.

By understanding how coverage works across different student living and driving situations, you can help ensure your student is protected at home, on campus and on that road. With the right coverage in place, everyone can focus on what really matters: learning, growing, and enjoying the journey ahead.

1https://www.insurancebusinessmag.com/ca/news/breaking-news/insurers-warn-students-face-coverage-gaps-as-tenants-insurance-uptake-remains-low-547830.aspx