As the time grows nearer to the start of the new school year, it is important to look over your insurance needs and consider whether or not they are being met by your current coverage, as there are many issues that can alter your protection requirements at this time.
A child’s grade level change, a newly licensed teen, or having a family member who is a college freshmen can each impact the type of insurance you need for auto, health, and homeownership.
First, have a look at your auto insurance. If your teen is going to be old enough to obtain a learner’s permit and/or will be taking a driver’s education course, then you will want to think about adding him or her to your auto coverage.
Look into discounts for teens who have taken additional defensive driving classes, who have good grades at school, or who drive a car that is considered to be safer by the insurance industry. Similarly, you may save money by encouraging your college-age teen to leave the car at home or by beginning a transition to his or her own policy if he or she will be going away to school.
Next, you can review your health insurance. Regardless of your child’s age or grade, it is a good idea to schedule an annual physical for your child before the start of the school year as the classroom is a place that has a high instance of germ sharing. Though your health insurance may provide coverage for this checkup, if you find that your child has a chronic health concern such as diabetes or asthma, or if your child will be participating in sports, you may want to consider changing your policy. Some schools require proof of health insurance among their athletes.
College students may choose health insurance provided for a fee by the college, as well as healthcare offered on campus. Don’t forget to consider all of the additional optional forms coverage, such as dental and vision care, as braces and glasses are common among school-age children.
Homeowners insurance may not seem like something you will need to think about at the same time that you’re shopping for back-to-school specials, but if your son or daughter has obtained a new computer or is studying a musical instrument, then you will want to make sure those expensive items are covered by your policy. You may also want to think about content insurance if your child will be boarding when off at school or college.