Friday, August 16, 2013

Back to School

As vacations wind down and summer comes to a close lots of parents out there face the reality of sending their children off to college.  With a million other things going on we wanted to add one more thing to your to do list, and that's simply what you need to do from an insurance standpoint.

Homeowners Insurance - Coverage is extended from most homeowners policies when your child lives in a campus dorm. The coverage limit is normally 10% of your homeowners personal property limit. If your child is bringing high-priced electronics and other items, make sure your limit is adequate. If that is not enough coverage, you can raise your homeowner's policy limit or look at purchasing a renters policy.  The cost can be as low as $ 150 a year.  Regardless of what you do remember that the more proof you own something the better off you are in the case of a claim. 

On the other end of the spectrum if you child has recently graduated and is living in their own apartment have them give us a call to discuss renters insurance and their overall insurance needs.  We can get them set up on their own auto policy and usually with a multi-policy discount they will pay even less than the $150 a year for renters insurance.  That money is well spent if they ever need to file a claim.

Car Insurance - If your child does not take a car with them to school, in most cases you can receive a premium discount on your car insurance and still have coverage for them when they come home for holidays and vacation or if they borrow a car while at school. It is usually based on miles away from home so if your child lives in Penn Hills and goes to Pitt or Duquesne or CMU then you might not get that discount.  If you child is taking a car with them to school, call our office so we can have the correct garaging information applied to the vehicle. Good student discounts still apply to college students whether they take a car to school or not.    

Life Insurance - While the thought of purchasing life insurance on a student may sound strange, if you are cosigning for school loans it can provide an element of protection.  Perhaps this is also a good time to reflect on your current life insurance policies and we'd be happy to come out to your home or have you in the office to discuss various options.

As always, if you have questions or feel we can be of service, call the office at 412-816-1000 or visit us online at