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School is in Session – Is Your Family Covered?

By September 11, 2019Personal Insurance

It’s that time of year again – fall is around the corner, school buses are back on the road, and whether they’ve moved into the dorm or headed to the local school, students are back in class. If you have college students in your household, now is the time to check in on some important coverage for your older children. Even if your kids are younger or you have no kids at all, there are a few insurance-related items you may want to keep in mind as the school year kicks into gear. 

Update your college student’s auto insurance policy

If your son or daughter just moved onto campus and took the car with them, make sure you updated their policy to reflect their new address. The new location of this car could change your premiums. If you have a child at school without a car but know they’ll still drive when they’re home on breaks, you’ll want to keep them on your policy – but if their school is more than 100 miles away from home, your premiums may decrease. Make sure to talk with an insurance agent about your specific circumstances so you know you’re getting the best protection for your college student, at the best price. Also make sure to talk to your son or daughter about lending their car out or borrowing vehicles from others at school, as there may be coverage restrictions in those situations.

Check for good student discounts 

If the newer drivers in your family have earned a spot on the honor roll, they may have also earned a discount on their auto insurance. Make sure you check with your insurance agent to find out if you could be saving money based on your child’s grades. 

Protect your college student from theft

College dorms and other similar living situations are great for making the transition from home to living on your own, but they’re also environments that make it easier for more people to access or damage your child’s belongings. We hope it won’t happen to your student, but if it does, you’ll want to be prepared. Your homeowners policy may extend to your child’s property even after they leave your house. If not, you may want to encourage or help your son or daughter purchase a renters insurance policy. Make sure to document high-value belongings like laptops by photographing them and keeping records of serial numbers in case of theft. 

Revisit safe driving habits with your high school student

Auto insurance premiums are highest for young drivers for a reason – inexperience and distractions are the culprit when it comes to many accidents involving newer drivers. As the school year begins, remind the drivers in your household how important it is to stay focused on the road – no texting or picking out music while the car is moving! If you haven’t already, consider enrolling your young driver in a safe driving program, which can build confidence and skill, and may even result in a policy discount! In the long term, good driving habits can also earn you a safe driving discount, and most important of all, will help them stay safe and avoid accidents. 

Take extra care on your commute

Now that you’ve made sure your teen knows how to stay safe on the road, make sure you’re following your own advice, especially now that you’re sharing the road with those making their way to school each day. Slow down, avoid texting, and watch for pedestrians – especially in school zones. 

Want to feel confident that you and the students in your family have the proper coverage for any situation? That’s where your local insurance experts at SBI come in. We’ll review your current policy and provide recommendations personalized for you and your unique situation. Just fill out the contact form below to get started! 

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Author Tim Bauer

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