Back to School: Insurance Checklist for High School grads, College grads and their Parents

As we are celebrating high school and college graduations across the country, these same graduates are planning on moving to college or entering the workforce. A part of these plans often include buying new computers, furniture and vehicles. Since the graduate is now out of the house, parents often want to save a little money and remove that individual from their policy. In response to the above, here are some things to consider and things about to make sure a high school or college graduate has the correct coverages.

  • Vehicle: Check with your agent to make sure the vehicle is listed and properly insured.
  • Furniture and Electronics: Does the renters or homeowner’s policy have enough contents coverage?
  • Laptop: If a student is traveling a lot with their laptop, scheduling the device to provide expanded coverage may be prudent.
  • Apartment Lease: Do you have a renters policy? Chances are the apartment complex will require this, but make sure it has enough contents coverage for the all of the electronics and furniture you moved with.

A couple of tips for parents: 

  • Check with you agent regarding state rules on removing your student from your policy. If your home is still listed as their primary residence then they are considered a household member and will need to stay on your policy if they will be driving your vehicles on the weekend or holiday breaks. In some states you are able to ‘exclude’ them from your policy and ‘include’ them when they come home for breaks…if you are looking to save a few bucks. But again check with your local agent for the rules of your state.
  • In most instances, your homeowner’s policy will extend personal liability coverage while your son or daughter is away at school, this is good a time to consider a Personal Umbrella Policy to provide extra protection for you and your family.

If you have any questions regarding your policies or specific coverages listed above, call your local agent to guide you through this process. This is a very important time in your family’s life, but it also comes with additional exposures. Congratulations to all of our WTM friends that are graduates and their family!

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