Is your child off in college? In the chaos of it all did you consider telling your auto insurance agent to see if any changes need to be made? Once your child leaves home, their car insurance may need to change.
Child that is not bringing their car to college:
If your child is going away to college and they are not bringing their car with them, make sure they are still listed on your policy as long as they are household members, especially as they are likely to drive the vehicles when they are home from school. Additionally, removing your child from your policy can have negative effects on your child’s policy of their own later in life.
Tip: Some carriers offer reduced premiums if the child is going away to school over 100 miles away and leave their car at home.
Child is bringing their car:
If your child is bringing their car to school with them, make sure to check to see if the school allows cars on campus. Some schools only allow certain grades to have their cars due to limited parking availability. For insurance purposes, it could make a difference if your child is living on campus or away from campus. Also, it may make a difference if they are there during the school year only or year around. Note too, if your child goes to a school out of state, they may not need a separate policy in that state. Ask your agent for details on your particular situation.
Tip: Rural areas tend to have lower rates than cities; if their school is in a rural area you could potentially have a reduced premium.
If your child is commuting each day, alert your insurance carrier about the amount of driving they will be doing. It is important to check your policy and make sure that you have adequate liability coverage for your child. Additionally, many carriers offer a “Good Student Discount,” offered to students that maintain a “B” average or better during their time in school.
Tip: Make sure to review details of your policy with your child and encourage them to drive safe and understand the potential risks involved.
Always review your insurance policies with your insurance agent whenever there is a life change including new drivers, new vehicles, updates to your home, marriage, and more.
