Post Date October 23, 2013 – Sending your kids to college can be an emotional time for any family. Most parents are absorbed with what things to prepare for and how to ensure their child’s protection and well-being while away from home. Having adequate auto insurance and homeowners insurance in place is one way to protect your kids financial well being. Most colleges and universities will require Auto Insurance and a Homeowners Insurance Policy be in place if the student is staying in the on-campus dormitories.

Auto Insurance and Homeowners Insurance is an issue when sending your kid to college

InsureDirect.com provides these few simple tips with regards to the insurance coverage necessary to for your college age kids and what parents must concider and obtain.

If you are sending your child away to school with an automobile, it is very important that you check with your auto insurance agent as to what coverages would be best suitable for both you and your child.  Maybe you will have to decide whether to keep your kid’s car on your family’s policy or buy your child his or her own auto insurance. What to consider here is the rate difference between having a separate policy. Also, if your childs grades are exceptional, you may want to inform your Auto insurance and Homeowners Insurance company about generous discounts which may be available to you.

Renter’s and Homeowners Insurance is also a very important insurance coverage for a child away at school. Our children will be bringing with them some very valuable items such as computers, televisions and in many cases expensive clothing. Depending on the policy, these possessions would still be covered by your Renters or Homeowners Insurance if the they are living on campus. However, many cases, if your kid is living in an apartment not on campus, a Renters or Homeowners Policy may no longer cover these possessions. It is in this situation that you may consider buying a seperate renter’s insurance for your student.

Health Insurance is another coverage you need to consider.  Review your health insurance, policy to insure your child is still covered. It is important to know whether the health services providers associated with your policy can provide cover in the locality where your child is going to study, or if not, if there are associated health providers nearby. You may also check student health insurance plans if you found out that your health care package may not suffice in your child’s situation.