Is your child insured for back to school?

Yes, the start of a new academic year is whispering to us through the final few weeks of summer. If your child is embarking on a new chapter away from home, they’re probably busy packing their bags and saying "see you soon" to all of their childhood friends.

What should you be checking, as a parent, before their departure? Besides making sure their accommodations are in order, you should see if your kids are insured properly for the school year.

Renters insurance

Living in a dorm room or student house comes with its own set of risks. Namely, your kid will cohabitate with a few new friends or dozens of young strangers. Some of these strangers may throw parties and invite even more strangers around their living quarters.

Not to say that these strangers won’t ever turn into some of your best friends, but combining strangers partying around expensive laptops, cell phones, textbooks and even winter clothing can be a recipe for theft or damage. 

Some coverage can be extended from a parent’s property insurance to their dependent child, but the amount will vary by insurer. Some may offer limited coverage for children attending school full-time studies at a capped dollar amount. Liability may also be covered in certain homeowner’s policies, but it’s always best to find out beforehand.

Auto coverage

If your kid has a used car, whether you’ve given it to them to make trips back home every so often or they’ve saved up to buy it, whose insurance policy should cover it?

If it’s an older car, it shouldn’t need that much insurance, and the smart, mature way to insure it would be for your kid to get their own young driver’s policy after completing driver's education. This way, your kid gains some independence while you avoid paying for their costly mistakes (like accidents that will increase your premium).

Of course, there are tons of ways to save on auto insurance that should be considered if you do want to put your kids on your policy.

Going back to school, especially if it's a new environment, is both scary and exciting. Making sure your kids are protected for anything out of the ordinary is one step towards more excitement.