It’s already that time of the year again – back to school time! While the summer may not be over just yet, it is important to start thinking ahead—especially if you have a college-bound student who will be headed off soon for the fall semester.
Depending on where your college student is going away to, he or she may or may not be able to take their car with them to campus. This is especially true for most freshmen. So, what does that mean for car insurance on that vehicle? This week, Paradiso Insurance is here to make sure you are prepared for the changes ahead.
If your teen is taking their car on campus.
If your college-bound child will be taking their vehicle with them to school and their school happens to be out of state, it’s important to check in with your auto insurance agent. In certain states, they may require you to get additional coverage on the vehicle, depending on their car insurance laws.
It also depends on who is the owner of the car. If you as the parent owns the vehicle, you may be able to keep the car under your insurance policy, but if your child owns the vehicle and is taking it with them to an out of state college, they may need to get their own insurance policy. These are all things that your insurance agent will need to go through with you to ensure you and your child’s vehicle is properly protected.
If your teen is leaving their car at home.
If your college-bound child is leaving their vehicle behind at home, it is important to ask your insurance agent for a discount or change in premium. Remember, this will only apply if the vehicle will not be in use for months at a time. If another family member plans on utilizing that vehicle, then a discount on the policy would not be an option. However, a car that will be parked in the driveway for a long period of time may be eligible for a low mileage discount.
Coverage Options to Consider
It’s also important to revisit your current insurance policy to make sure your coverage options will be providing the right protection for a college environment. For example, college parking lots can be a distance away from the dorm rooms. Comprehensive coverage can help protect your vehicle in the event that it’s stolen, or damaged.
If your child will be driving their car frequently, maybe to and from class, you may want to have collision coverage to protect you in the event of an accident. These are all great things to consider before your college-bound child hits the road!
It’s important to remember to always alert your insurance agent whenever you have a major life change. Situations such as having your child go away to college can have a major impact on insurance.
Whatever the situation may be for you or your child, our licensed agents at Paradiso Insurance are ready to discuss these changes with you. Never hesitate to reach out to us regarding your insurance needs – we’re here to help!