Congratulations High School Graduates! Once your high school student has graduated how do you ensure your family stays protected when they are away at college? Not only is this time a big change in your lives but it can become hectic to keep track of all the necessary things to complete before their first day of college. Below are some helpful insurance steps you can review for your high school graduate:
Student Away at College – When your child is away at college it is important to notify your insurance agent. Whether your child is moving away with or without a car your agent may be able to see if there are any discounts available. For example, there may be good student discounts available for students away at college if they maintain a specific GPA or if they are away at college without a vehicle.
Review your State’s Auto Insurance Requirements - Many states mandate a minimum level of liability insurance on an auto insurance policy. Each state’s liability limits may be different, and the minimum coverage may not provide your child with adequate protection. Talk your independent insurance agent to learn more about coverages and available limits where your student will be staying.
Theft Prevention and Coverage- If your student lives in a dorm on campus sometimes bad things happen such as theft. Most homeowners or renters’ insurance may extend protection to your child and their belongings as they are away at school. It is important to make an inventory checklist of your child’s high-value belongings such as a laptop and write down serial numbers and report anything that goes missing.
Understand health insurance options - Many employers provide health insurance plans, and some may allow children to stay on their parent’s plan until age 26. If they don’t provide a good plan, it may make sense to purchase your own policy through the insurance exchange.
Contact Your Agent – Some insurance policies may only cover students living in dorm rooms and not those who live in apartments or housing outside of the college campus. If this is the case, you may need to obtain a separate renter’s policy for your student aside from your homeowners’ policy. It is important to contact your insurance agent to review your home or renters’ insurance policy so you can ensure your child will be protected no matter what.
Sources: Secura Insurance West Bend Mutual