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Insurance Advisors' Newsletter
September 2015

 My Kid is Away at College.
Do I Need to Keep Him on
my Auto Insurance Policy?

Written by Susan Cormier for Insurance Advisors

Please join us at the 7th Annual Smokin' Brew BBQ over Labor Day weekend. There'll be cold beer, great BBQ, a Kids Zone and a full lineup of entertainment. And It's all for a good cause - local and worldwide Rotary causes. 

WHERE: PACE Center
20000 Pikes Peak Ave.
Parker, CO

COST: The event is free, although tickets must be purchased for food and drink.

HOURS:

Friday, Sept. 4, 2015 
4 p.m. to 10 p.m.

Saturday, Sept. 5, 2015
10 a.m. to 10 p.m.

Sunday, Sept. 6, 2015  
10 a.m. to 7 p.m.

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IA Team

So you’ve packed up your child and sent him off to college without a car. You probably will leave his bedroom alone. But should you also leave your automobile insurance policy alone?

At Insurance Advisors, we recommend that you keep children who are away at college on your policy – even if they don’t take a car with them.

Here’s why:

  • They’ll be fully protected when they return home for a long weekend, Christmas or summer break.
  • They’ll be protected if they decide to drive a friend’s car – even if that vehicle isn’t adequately insured.
  • They’ll be fully protected if they are, God forbid, hit by a car while walking or bicycling.
  • They’ll be protected while sitting as a passenger in someone else’s car.

Two other benefits of keeping college-age children on your policy include the facts that insurance companies:

1. Base their premiums on the number of miles a person drives. College students who live more than 100 miles away from home without the use of a car are usually considered lower risk, which reduces your premium.

2. Charge lower premiums when someone has had insurance for at least a year. Your children will have lower rates now because your insurance company has experience with you. When they are ready to be independent and purchase their own insurance, they will have had prior insurance coverage and not be considered an unknown risk to a company, the latter of which increases rates.

What happens when your child takes his car to college?

If your college-age student takes a car to school, he usually can remain on your auto policy if his primary address is your home. However, if your child owns the vehicle and holds the title, he’ll need to purchase his own auto policy.

Whether they take their car to school or not, make sure you ask us about discounts that are available for students. Your children may qualify for a Good Student Discount or a Distant Student Discount if they attend college at least 75 miles away from home.

As always, Insurance Advisors is ready to help you with your insurance needs. Just give us a call at 720.210.9898.





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19751 E Mainstreet, Suite 380, Parker, CO 80138   |   720.210.9898   |   www.theinsuranceadvisors.net
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