What should I do with my insurance when my child goes away to college?
As college kids and parents to prepare for a new college semester, often, insurance is the last thing on their minds. That’s where we come in!
Kids and Cars
Whether your student is taking a car to college with them or leaving it behind, call your agent with updates. If the car is no longer garaged at home, it may be subject to a different rate at the school’s location. If the student does not have a vehicle, you may be able to change their rating on your policy to reflect the lower risk. Also, if your student gets good grades, you may be eligible for a discount.
Home Away from Home
If your young adult is living in a dorm at school, your homeowners policy may automatically cover their belongings. But, with all of the required, and desired modern technology, it may not be enough coverage. And if your student is renting an apartment, they may need a renters’ policy. Call your insurance agent to discuss coverage.
Health care laws allow parents to keep their kids on their health insurance policies until age 26, but it’s good to check with your agent to make sure your child is covered. Check into policies offered through the college to compare premiums and be aware of the possibility of duplicate coverage.
Together, we can make the transition easier for your college kids and take care of your insurance needs.