After a forced homeschool year and long summer of COVID, it’s time to rejoice – the start of the school year is here!
Moving up a grade, changing schools, or even heading off to college doesn’t just mean changes for them — it means changes for you and most likely your insurance needs as well.
Here are three major items to consider reviewing, updating, or purchasing with the scholastic changes happening with your children.
Car Insurance
Is your child going to become a driving-age teenager this year?
Do you have someone going off to college who is taking a car along?
Will you need a bigger vehicle for carpools and after-school activities?
It’s important to look into your current policies and talk to your agent about different coverage options as your child grows up and moves out.
For example, some insurance companies offer a good student discount that your young driver can take advantage of as long as they maintain a certain grade point average.
If your child is heading off to college, you’ll have to make some decisions if they bring a vehicle with them as your premiums may change due to the change in location.
Even better, if they are moving more than 100 miles away from home and aren’t taking a vehicle, your insurance premiums could decrease by as much as thirty percent.
Home Insurance
Your college-aged child is probably trying to make their on-campus living feel more relaxed and a little more like home by bringing expensive items along with them like laptops, TVs, and other electronics. Luckily, most home insurance policies will cover these items if your child is staying in the dorms. However, if your child has lots of expensive equipment or furniture or is living off-campus, you may want to consider purchasing additional coverage like renter’s insurance.
Health Insurance
With all that has happened in 2020, we don’t need to warn you about germs and disease. Yes, schools are a cesspool for sharing germs, colds, and cases of flu no matter the age of the children.
It’s almost inevitable that your child will get sick either very mild or more serious during the school year. The best thing you can do for you and your child is to make sure you have a good health insurance policy. Their health is too important and you want to make sure you have that safety net in place. You also want to ensure that your child visiting the doctor won’t be a financially stressful situation.
If you have a college-bound child, you have a couple of health insurance options. Children can stay on your health insurance policy until age 26, but your insurance policy may have geographical limitations that make it difficult for your child to find care under an in-network provider. Many college and universities have their own on-campus health care and health insurance, and some even offer free health care while your child is enrolled as a full-time student. If that isn’t a possibility, your child can always apply for individual health insurance. Keep in mind, since they are still considered your dependent they may not qualify for a subsidy.
Open Enrollment is October 15 – December 15, so please contact us well in advance to discuss insuring your children, no matter their age!
Back to school is a jump back into learning, and this year probably feels just a bit sweeter.
With learning on a ‘normalized’ level again, we also encourage you to learn about your insurance options to ensure your children and family have the coverage they need.
Contact us to discuss your options and good luck to you and your children this school year.
Bates Hewett & Floyd
When you think about an independent insurance agency in Northeast Florida, you probably think of a small to a medium-size office run by a family or a few employees. If you have never visited or been inside Bates Hewett & Floyd, you have not experienced the big picture. With 30 employed professionals (currently seeking additional candidates to join the team) we are one big family (some blood, most not) that spans three offices and are spread throughout the many facets of insurance that Bates Hewett & Floyd.
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