August generally means back to school for most of our kiddos. While a new school year starts, you may be focusing on new schedules and school supplies, but don’t forget about your insurance. As children get older, their insurance needs change. Now is a better time than any to evaluate your insurance before being bogged down with school commitments.
Life Insurance
If you have yet to extend your life insurance to cover new additions to your family, that should be your first priority. If you have someone else depending on your income, such as a child or a spouse, you should have term life insurance so that they are taken care of.
Car Insurance
If you have a child getting their license this year or someone going off to college with their car you need to make sure to keep an eye on your car insurance to see what is covered and what is not. Some insurance providers offer good student discounts that young drivers can take advantage of provided they keep a good grade point average. Premiums can also change depending on how far they are moving and whether or not they take the car with them.
Home Insurance
If you have a soon-to-be high school graduate, they will probably end up bringing expensive items to college like laptops, TVs and other electronics. If your child is staying in the dorms, most home insurance policies will cover these policies. However, if they decide to live off campus, they may want to consider purchasing additional coverage like renter’s insurance.
Health Insurance
How many of our kids have suffered from a back to school cold? Schools are unfortunately a great place for sharing germs, colds, and flus. The best thing you can do for your child is to make sure you have a good health insurance policy. That way, taking them to the doctor won’t be a financially stressful situation and they can receive the care they need.
Children can stay on your health insurance policy until 26, however if you have a child going off to college, you might need to double check that your policy does not have any geographical limitations.
Looking into health care at their college and university may also be a good idea as many offer free or affordable healthcare while enrolled as a full-time student.
If you have any questions about your coverage, whether for health insurance, auto insurance, home insurance or life insurance, Chastain Otis would love to help. Contact us today.