Car Insurance for Students
Kids in high school may be preparing to take drivers ed and get their licenses this year. If that’s the case for your child, you may want to begin researching car insurance rates or what it may cost to add them to your insurance plan. Some insurance companies will offer a significant discount for ensuring your teenager if you agree to put a lowjack in your car to monitor speed.
You may also want to inquire about student discounts for car insurance as well. There are some companies that offer a discount for students with a high grade-point average.
Students headed off to college may also see a change in premiums and coverage if they go more than 100 miles away from home and bring a car to campus. However, you also stand to save up to 30% if your child leaves the car at home.
Health Insurance
Elementary school-aged children are especially susceptible to colds and cases of flu. Schools are a breeding ground for germs. Because of this, it is important to make sure you have solid health insurance coverage so you’re able to take them to the doctor when needed.
Many colleges require students living on campus are required to have health insurance. Thankfully, your children can remain on your insurance policy until they are 26 years old. If that isn’t an option financially, they can apply for individual health insurance. Students also have the option of receiving care from on-campus health care services. Some universities offer free health care while your child is enrolled full-time.
Home Insurance
College students often bring expensive electronics along with them to school. This can often make their dorm room or apartment prone to burglary. Most home insurance policies will cover these items as long as your child is staying in the dorms but will not cover certain items. Students living off-campus will need to purchase renter’s insurance, or you may consider adding their renter’s insurance to your policy.
Most home insurance policies cover up to 10% of property owned by an insured that is at a residence other than the residence listed on the policy. A $100,000 policy will cover $10,000 of belongings in a dorm.
When students return to school each year it is a reminder for many people to review their current insurance coverage. Taking a good look at your insurance may help you discover gaps in coverage and prevent any losses in the future.
Readers, are you preparing to make any changes to your insurance coverage now that students are headed back to school?