Back To School Insurance Changes

Back To School Insurance Changes

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When a child heads off to college, it can be a very busy time. Do not forget to check out your family insurance policies to make sure your son or daughter is well covered at affordable rates. It is handy to check out auto, health, and rental policies for college students.

Auto insurance is usually a concern for any family with teens or young adults. We all know that younger drivers tend to increase auto insurance rates. Car insurance rates for teenagers and young adults are always higher. A simple online insurance quote, to account for different circumstances, could end up saving you a lot of money down the road.

If you are sending your child off to school without a car, find out if you can get a lower rate on your policy. That may actually lead to lower rates because the student will no longer be a regular driver.

If he or she is driving away from home, you should also let your insurer know. Rates in another city may be different. There may also be additional concerns about where the vehicle will be parked and how it will be used. It is always better to clear up everything before you need to make a claim!

What about health insurance? Your child should be covered under your family policy. However, if your medical plan is an HMO or PPO, the network may not extend to another city. Be sure and find out before you think everything is taken care of. If not, it may be prudent to consider a college student plan. Either way, be sure your child is well covered by a medical plan, and that your child knows how to access services.

Should your son or daughter have a rental insurance policy? Some dorms may include this coverage in the rent, but others may not. You may also check to see if your own homeowners's policy will cover your college student as long as they are still getting support from you. A rental policy can give you thousands of dollars worth of coverage for a few dollars a month. This can be handy in a dorm or apartment.

You may not think your student owns a lot. Your son or daughter probably has expensive texts, a computer, and other items that could cost a lot of money if you had to replace them. Most college students, and families with students, have to live on tight budgets. Losing any money can cause big budget problems.

Find out if your own home insurance policy will extend coverage for your college student. Adding renter's insurance is not expensive. They can cover the replacement costs of lost, damaged, or stolen items. Some even provide cash to help relocate your student if the residence is damaged. A renters insurance policy usually provides a lot of coverage for a few dollars.

Be sure your son or daughter knows how to access services too. Before they go, make sure they have copies of insurance cards so they can present them to make a claim or get medical services. A lot of times, family coverage can be extended to cover college students. But it is work a little trouble to make sure your student is well covered.

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