The weather is cooling (sorta), the pools are closing, and school supplies are picked over in stores… which can only mean one thing! It is back to school time! New beginnings, like back to school, are a good time to take an inventory on the insurance policies you have in place for your family and ensure you have the right coverage to meet your family’s needs and current lifestyle. Let’s take a look at the ABCs of insurance you need to review for Back to School.
A. Renters Insurance
You already have homeowners insurance to cover all your belongings located in your home. But what happens when you child moves off to college with expensive items such as laptops, TVs, furniture, or other electronic devices? While most Homeowners Insurance policies extend coverage to students away at college (typically up to age 25), you may want to consider getting them their own Renters Insurance policy as well. Renters Insurance is relatively inexpensive and by putting your child’s name on the policy, you can empower them to take charge in the event that they would need to file a claim. This frees you up from one of the many worries that comes along with sending a kid to college, while introducing your child to independent adult life.
B. Health Insurance
Let’s face it, schools are a cesspool of germs. It is vital to you and your family to ensure you have appropriate health insurance to cover all the needs of your family as you go back to school. From coverage for flu shots to antibiotics, the costs can quickly add up if you do not have the right health insurance policy for you and your family.
And if you have a child going off to college this fall, you will want to double-check your policy regarding age limits and geographical limitations for coverage. You may want to check to see if the school your child will be attending offers free or affordable healthcare while enrolled as a full-time student, which would be a great option for saving some money you can put toward tuition or books instead!
C. Car Insurance
Did you teenager get their school permit or driver’s license over the summer, and they are now ready to drive themselves to school each day? Now is the time to make sure you have the right amount of car insurance coverage to give you peace of mind! The good news is, there are some discounts available to you! Some insurance providers offer good student discounts that young drivers can take advantage of, provided they keep a good grade point average.
If you have someone who is on your currently policy going off to college and taking their car with, you will need to review the details of your car insurance to see what is covered and what is not. There may be some add-ons that you will need to get before they leave.
This list is not exclusive to all the coverage you should have to protect your family. You will also want to look at your Life Insurance Policies and Umbrella Policies to ensure complete protection in all areas of your home life.
Contact Us Today
Do you want a professional to take a look at your policies to ensure you are adequately protected during the current season of your life? Contact us at Chastain Otis to review your policies and provide recommendations for what should be covered. Contact us today.