Proper insurance protection is important for you and your offspring.

Insuring Junior's auto

If your child takes a car or motorized scooter to school with him, make sure your auto policies are up-to-date with his new address. You'll save if he moves to an area with lower rates or leaves the car at home, especially if they're studying more than 100 miles from home. You can also save by reducing the vehicle's coverage or changing the student's driving status from primary to occasional use. Discounts for receiving good grades also apply to college students up to age 25.

Are her belongings covered?

Students' possessions may be covered under your homeowners policies, but others may require purchasing renters insurance. Consider insuring high-value property – such as bikes, jewelry or electronic equipment – separately if their value exceeds the limits of your homeowners or renters coverage. Speak with your independent agent about whether your student will need additional renters insurance or if they are covered under your homeowners policy.

Below are questions to ask to determine the best option

  • Is my child still considered a "resident of the household" under my current policy?
  • Is their dorm or apartment an "insured location" under my policy?
  • Does it matter whether my student is full-time or part-time?
  • What impact does my tax status or my student's marital status have?