My Child is Going to College. Should I Remove Them From My Policy?
Your child will soon be attending college. Should you remove them from your insurance policy? The answer is probably not. Here’s why it’s important to keep your children on your insurance.
Car Insurance
Did you know that your kid’s good grades can benefit your auto insurance? Alfa Insurance® offers a Youth Honor Student discount for full-time students with a 3.0 GPA or higher. Contact your local Alfa® agent for more details on how to start saving.
Even if your child does not take their car to college, they may still be covered up to policy limits. Another good thing is that if your child is walking, biking, or a passenger or driver in a friend’s car, they may be covered by your auto insurance if they were to get hit. After all, it can get expensive for your child to have their own policy. Keeping them on your policy may be a better decision.
Homeowner’s / Renter’s Insurance
When you think of the personal belongings that your child will be taking to college with them, you want to be sure they have coverage if they are damaged. Anything can happen. Your homeowner’s or renter’s insurance may extend to cover your child’s valuables in the dorm rooms. If your child’s dorm ever experiences a fire, you’ll be relieved knowing your insurance may cover the damages, based on the terms of the policy, to your kid’s belongings like their laptop.
If your child decides to live on their own or share an apartment with friends, then that will be a different story and you may want to set up a renter’s policy for them.
Health Insurance
Most likely, your child may already be covered under your health insurance and your policy may cover your child until they are the age of 26. Check with your health insurance provider to understand how your child’s coverage changes if they attend college out of state. Also, check to make sure your policy extends in case your child decides to study abroad. This may require extra coverage.
Insurance for your kid is the last thing you will be thinking about when it’s time to pack their things and leave the nest. Be ahead of the game, because your college student will most likely not be thinking about important things like insurance. Contact to your local Alfa agent to discuss coverage for your college student.
All coverages are subject to deductibles and policy limits. This is not an insurance policy. It is intended only to provide a general description of Alfa Insurance and/or its product lines and services. An actual policy contains the specific details of the coverages, conditions and exclusions. Your Alfa agent can explain the policy and benefits and answer any questions you may have before you buy.