The great college sendoff is upon us. Like you, we’ve been preparing to send a child off to college. We are thrilled to have our oldest attend Austin Peay University. With all of the anxiety that arises from this life changing event, remember important safety measures to protect your child. One of the best ways to insure their success is to protect their personal belongings while away at school.
Good news! Your homeowner’s or renter’s insurance policy WILL extend to cover their personal contents in the dorm. Unfortunately, claims that occur in their dorm or apartment will affect your claims history and potentially homeowners rate. Claims history will follow you from company to company. It is a big rating factor on a homeowner’s or renter’s insurance policy. While keeping them on your policy saves now, in the event of a claim, you may end up paying more in the long run.
Take out a “renter’s” insurance policy: Don’t let the name trick you! Renters insurance is simply coverage for personal contents and liability to protect you against lawsuit, should one occur. You don’t have to have a rental contract to qualify for this type of policy. Even students who continue to live in the home can utilize this type of policy to help them establish a sense of responsibility and independence in their young adulthood. In addition, parents receive the benefit of not having the burden of coverage, and ultimately suffering with higher rates down the road as a result!
Have questions on renter’s insurance? Need to compare rates?
Contact me: 931-553-1969 or online here.