It’s that time of year again when the back-to-school rush fills the air with excitement and a touch of trepidation. Whether your child is heading off to elementary, middle, high school, or even college, it’s crucial to take a moment to review your insurance policies. This proactive step will not only give you peace of mind but also help safeguard your family’s financial well-being. At Steele Group Insurance Agency, Inc., we understand the importance of proper insurance coverage. Here are some valuable insurance tips to make your back-to-school season as smooth as possible.
Homeowners Insurance
If your student is moving into a college dorm room, you’ll be pleased to know that your homeowners’ policy will likely cover their personal property in case of loss. However, there are a few things to keep in mind. Ask your child to notify you if they purchase any high-value items, like a new computer, and ensure they keep the receipts. It’s also a good idea to check with your insurance agent or company to confirm that these items are adequately covered.
For students living off-campus, renters’ insurance is a wise consideration. This coverage not only protects their personal belongings but also provides liability coverage in case of injuries on the property. Renters insurance premiums are typically reasonable, with costs varying depending on factors such as location, rental unit size, and the value of possessions. Encourage your child to create a home inventory list; this will significantly expedite the claims process in case of any unfortunate events.
Auto Insurance
In Oregon, it’s mandatory for every vehicle on the road to have auto liability coverage. Auto liability insurance covers property damage and bodily injury to others if you’re found responsible for an accident, up to the policy’s limits. When it comes to auto insurance for college students, consider the following:
- If the vehicle is in your student’s name, they should have their own auto insurance policy.
- If your college student is driving a vehicle registered in your name, they can likely remain on your policy and be listed as a driver.
- Notify your insurance agent or company of the vehicle’s storage location if it differs from what’s listed on your policy.
Health Insurance
Health insurance is another crucial consideration for college students. Here’s what you need to know:
- If your children are currently covered under your health insurance plan, they will continue to be covered while at school. Most insurance plans offering dependent coverage extend this benefit until the dependent turns 26.
- If you have a health maintenance organization (HMO) plan, your child might need to return to your home area for routine care, with emergency care only available while at school.
- Many colleges and universities offer their own student health insurance plans. These plans vary in terms of premiums and features. To explore your options, contact your student’s school health center.
In conclusion, a little preparation in terms of insurance can go a long way in ensuring your child’s back-to-school experience is worry-free. At Steele Group Insurance Agency, Inc., we are committed to helping you find the appropriate coverage at the price you want. With these insurance tips in mind, you can confidently send your child off to school, knowing that you’ve taken steps to protect what matters most.
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