Is your student off to college this semester? Have you done an insurance review?

Can you believe that summer is coming to an end and it’s now back-to-school time once again? It’s the time of year when we notice more than ever the way our children are growing and how their lives are changing. So this makes it the perfect time of year to also evaluate your family’s auto insurance and homeowners insurance coverage. Is this the year when your teen goes to college? Will your son or daughter get a drivers license? Will you be replacing your vehicle to make room for school carpooling? Will you be adding an addition to your home to accommodate space for home schooling? Keep your children safe in the new school year— review your car and home insurance coverage this fall.

Car Insurance

• Before you decide on that new vehicle, check with your insurance agent to see how its purchase will affect your auto insurance rates. Also, you’ll want to discuss how carpooling impacts your coverage as well.
• Teen drivers can be expensive to insure, but don’t forget to check for a student discount. Typically, getting the discount requires that your child carry a good grade-point average, so you’ll need the details on that as well. In addition, if your teen passes a driver safety course, you might qualify for reduced car insurance rates.
• If your child in college, it’s possible that you might receive a further discount, provided they meet the requirements – typically attending school outside of a specific distance from home without a vehicle while away.   Again, your insurance agent will know the details.

Home Insurance

• Perhaps home schooling is your plan, and you know you’ll need to expand your home to accommodate the space. There are many insurance questions to resolve before you move forward. For example, if your home is expanded and the property value increases, then how will this affect your homeowners insurance cost. Not to be forgotten, also, is the need for sufficient liability coverage if your home schooling will include others beyond your immediate family.
• If your college-bound teen will be living on campus, then most of his or her belongings will typically be covered – at least in part – by your homeowners insurance policy. This includes all those expensive items like a laptop, TV, bike, smartphone and other electronics, among others. 
• If your college student will be living off campus while away at school, then it is likely that your homeowners insurance will not cover, and renters insurance will then be your answer. Renters insurance is typically very affordable, and a discussion with your insurance agent will let you know your options.

Home and Auto Insurance Tip

The start of another new school year can be an exciting time for your family. Giving yourself the peace of mind knowing that you’ve got the right insurance coverage can help you protect your assets as you invest in your child’s future. The first step to doing so is to meet with your insurance agent who can help you explore your options.

The William M. Sparks Insurance Agency located in Lutherville / Timonium, MD, is a full-service insurance agency offering auto/car insurance, homeowners insurance, business/commercial insurance and life insurance to all of Maryland (MD), Virginia (VA) and Pennsylvania (PA) since 1981. Our experienced insurance agents welcome your inquiries and are glad to discuss your coverage needs at any time.