Back To School Insurance Tips

We are in the middle of August, and school is right around the corner. Kids are getting ready to start their new grades, and college students are preparing for their next semester. However, a new school year doesn’t mean they are the only ones facing changes. With kids getting older and a new school year starting, now is the perfect time to evaluate your insurance plans and figure out if any changes should be made. Continue reading to find out what back to school means for you and your families auto, home, and health insurance.
Auto Insurance
As another school year approaches, your kids seem to be getting older and older. Your child may be getting his or her license this year. Or they might be heading off to college and in need of a car. That’s why it is important to look into your auto insurance plan and see your different coverage options as your child grows up. Deibler Straub and Troutman offers discounts such as youthful driver and college student discounts that you and your kids may be eligible for. We know letting your newly licensed child out on the road can be scary, but a properly devised insurance plan can help take some of that worry away. Also, if your college student is taking a vehicle with them over 100 miles away, you could potentially see your overall monthly premium start to rise due to being in a different state or location. This is why it’s a good idea to re-evaluate your plans every year.
Home Insurance
Along with auto insurance, you definitely want to look over your home insurance plan for the upcoming school year. Your college student will most likely be bringing valuable items along with them to school. If they live in the dorms, you’ll probably be ok sticking with your plan as most tend to cover these valuable items if something happens in the dorms. However, if they are living in an apartment and have expensive things like furniture and electronics, then you might want to think about purchasing different coverages. Normally landlords’ policies only cover the structure and don’t cover the possessions of renters. Purchasing renter’s insurance will come in handy in this situation if your student’s needs can’t be met under your current policy.
Health Insurance
The next thing to look over before school starts is your health insurance plan. It’s no secret that school is a place that is prone to sharing germs and contagiously getting people sick. Making sure you have a good health insurance policy is huge when trying to keep your child healthy so you don’t have to worry about any potential financial troubles down the road. Getting a plan that covers check-ups, immunizations, eye exams, and other care is critical for when your kids go off to school. College students have a couple of options when it comes to health insurance. They can stay under their parents’ health plan until they are 26, but they may have some limitations if they are going to school and living far away. It may be difficult to find care under an in-network provider. Most universities have their own health services and health insurance plan which is always an option to consider. The last option would be to have your college student apply for individual health insurance. This can work out, too, but since they are still considered your dependent, they may not qualify for a subsidy.
In conclusion, back to school season calls for homework for students and their parents. Make sure all of your insurance plans are what you want for you and your kids as the new school year approaches. From all of us here at Deibler Straub and Troutman, we wish everyone another great year of school.