Do you have a child that will be heading off to college soon?  If so, you have plenty of insurance needs to keep in mind.  Not only will you need to take a closer look at your car insurance needs, you will also need to consider medical insurance and other important forms of insurance to keep your child protected.

Auto Insurance

When your child became a teenager, you likely noticed that your insurance rates went up.  You may be hopeful that they will go back down now that your child is heading off to college.  The reality is that you may not see much of a difference at all.  In fact, you may actually have to pay more when your child goes to college.

If your child still lists your address as his or her permanent address, the insurance company will still consider your child to be a resident of your home and your insurance rates will not change.  In addition, depending upon your insurance company, you may actually have to list your child as the primary insured on the vehicle that he or she takes to school.  As a result, the rates may go up.

Health Insurance

Health insurance is another factor you should consider when your child heads off to college. If you belong to an HMO, it is unreasonable to expect your child to go to doctors that are within your network – particularly if he or she is attending a college in another state.  Therefore, you might want to look into purchasing coverage through your child’s school.  The cost of this coverage varies from one school to the next and the level of the coverage may vary as well, which means you need to carefully consider the coverage in order to determine if it is the right choice for you and your child.

Renter’s Insurance

If your child moves into an apartment or rents a home while away to school, it is a good idea to get renter’s insurance in place.  This way, if he or she causes any damage or if anything is stolen, the insurance will provide your child with protection.  If your child is staying in a dorm or in any other type of university housing, you won’t need to purchase separate insurance because he or she will probably be covered under your policy.  Nonetheless, you should check with your insurance agent in order to be certain.

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