Back to School: 5 Insurance Things to Consider

The summer holidays are long gone, and it’s back to work and school for most of us. As your children begin a new year of education, it’s your responsibility to go over your to do list and make sure everything runs smoothly. Insurance is a great planning tool for “back to school”, here are some ways you can protect your family this season…

Off Premises Theft Coverage

Yours and your family members’ personal property are covered at your residence under your home insurance policy. Did you know you could purchase coverage for items that are off premises? This coverage is great for students that are away at school with their devices, or kids who bring their laptops, iPad, etc. with them to class. Off Premises Theft Coverage can be added to most home insurance policies by way of endorsement.

Personal Liability

Back to school time is when you should check on your personal liability coverage. Are your limits adequate? Are you carrying an umbrella policy? If not, you could put your family and assets at risk of a costly lawsuit. Remember, personal liability covers you for claims related to bodily injury or accidents that occur in or out of your home.

Cyber Bullying Coverage

In this day and age, cyber bullying has become increasingly common and leads to devastating consequences. As a result, many homeowners incur costly expenses related to their child’s involvement. Some carriers now offer the option to add cyber-bullying coverage to their policies which typically provides compensation for psychiatric services, rest and recuperation expenses, education expenses, professional public relation services, temporary relocation services, lost salary, and cyber security consultants.

Personal Cyber Liability

If you or your children use a computer, you have some risk of a cyber crime. Available as an optional endorsement on your homeowners or as a stand-alone policy, personal cyber liability insurance can compensate you for things like re-creating or replacing data files, extortion money paid to hackers using ransomware, theft from financial accounts, costs to restore your reputation after slander or defamation of character, and more.

Student Discounts

If you have a student in college insured as a driver under your auto policy you may be entitled to special discounts. For example, most carriers will offer a “Good Grades” discount to drivers in school who can provide a transcript showing an average of B or better. In addition, youthful drivers who have completed the Driver’s Education program can be eligible for a discount. Does your college student take a car with them to school? If your child is away at school, you should ask your insurance broker about options for lower rates. Many carriers will offer lower rates to those vehicles kept out of state or those students who were primary drivers previously and then move away without a vehicle.

Protecting your family throughout the year is your first priority. Simple things such as adding one of the above coverages to your policies could save you money and a headache. Looking for more information or advice? Give me a call today to discuss your options.

Opinions expressed in this article are solely the author’s opinion, not intended to provide the reader with legal or any other professional advice. Should you need advice or opinion, consult with a qualified professional to address your specific needs.


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