College is such an exciting time, one that I know a lot of us wish we could relive! For now, we can live vicariously through our children as they start their college careers.
As you prepare your student for their freshman year, you create countless checklists and complete many daunting tasks. These checklists may include: what to pack, what forms need to be completed and sent in, what classes they want to sign up for, and many more. While you focus on these tasks, you may overlook one of the most important tasks of all. That task is making sure that you have the proper insurance coverage to protect them from the many situations that may occur when your child is away from home.
One question you should ask is: does your homeowner’s policy cover the property in their dorm room or apartment? Your child is most likely taking a laptop or computer with them, jewelry, and other electronics and valuables. You can check with your agent to make sure that you have enough coverage to protect these items in case of theft or fire. You can even purchase a renter’s policy if you do not want to increase the limits on your homeowner’s policy.
Another important factor to consider is auto insurance. While many colleges do not allow freshman to have a car on campus, you should still alert your insurance agent when your children leave for school. You can sometimes be entitled to a premium discount if a driver is temporarily not living at home, but you still want to make sure that you have proper coverage when they return home for holidays, summer, etc. If they are taking the car with them to school, you still need to let your agent know, especially if the school is located far from home. This will just ensure that your child always has the proper protection.
Your child going to college is a huge milestone in your life and theirs. Make sure that they are protected! Call an Arbor agent today to review your policy at 610-437-3340.