Insurance Advice for Empty Nesters: What to Do When the Kids Move

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05 Jun Insurance Advice for Empty Nesters: What to Do When the Kids Move

Every parent has to face it eventually. Time flies, and the child you raised for years is now grown up and looking to start their own independent life as a successful adult. It may be difficult to face, but as a parent, you’ll have an empty nest soon.

While you’re helping your son or daughter pack up, move into their own place, and get adjusted to a new life of independence and freedom, some important insurance advice for empty nesters to remember is to update your insurance.

Why it’s important.

Updating your insurance when you have an empty nest is important. It can help you save money, and it only takes a few moments to let your insurance agent aware that your son or daughter are no longer a part of your residence, and need to be taken off the policy.

Most commonly, children remain on their parents’ insurance policies until they’re old enough to support themselves.

Less risk on your automobile insurance policy.

Most parents add their children to their automobile insurance policy when they are of driving age, and while insuring your son or daughter isn’t cheap, you can rest easy knowing that have the proper coverage.

However, now that they’re becoming independent, some advice for empty nesters is to talk to them about their insurance options. It can help you save a lot of money, and teach them how to handle their own responsibilities.

Of course, the professional insurance agents at Paradiso Insurance are here to help you with any questions you or your family may have. We can guide you in the right direction and can ensure that your son or daughter has the right coverage that they need for the best price.

How you can save on your homeowners insurance.

As an empty nester, there’s a little less liability in your home. Additionally, you could save money on your homeowners insurance premium by getting rid of common liabilities associated with multi-member family households. With an empty nest, you could be faced with less risks or have less to protect as a result of your children leaving home.

Playscapes, trampolines, and even pools are common to have, but once your kids have grown up and left the nest, they probably won’t be used in the near future. Our advice to empty nesters is to get rid of these items if you can. This can help you to save money on your insurance premium because you no longer have certain hazards on your property. This means you’re at less of a risk for someone to get seriously hurt or injured on your property.

The best advice for empty nesters to meet with one of our licensed insurance agents to discuss your options moving forward. Every child has to grow up and leave home eventually, and when they do, just don’t forget to tell your insurance agent!

 

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