Nick DiUlio
If your son or daughter is considering having a car at the College, it is essential that you make sure that auto insurance ducks are in a row.
One thing to remember: potential discounts.
Many auto insurance companies offer a discount if your son or daughter will be driving the family car and attending college more than 100 miles from home, according to the insurance information Institute of. Allstate, for example, offers a discount up to 30 per cent.
If your son or daughter is the owner of a car, but is taken to the school, inform the insurance company, since the cost of automobile insurance varies by geography. A car parked at home may cost less to ensure that a car parked at the school.
Ron Moore, consultant senior product for MetLife Auto & home, said that if your son or daughter of plans to have a car on campus, it is important to know where it will be stationed.
"Vehicle parked in the parking lot of the College can suffer scratches and teeth," said Moore. "With a low full franchise is a good idea, since it will help cover part of the cost of repairing scratches and teeth.".
Complete coverage is optional. It protects your car in cases involving does not a crash, such as storms, fire and theft.
Given the financial pressures of the College, many parents and students make the mistake to obtain cheaper possible automobile coverage, Moore, said. Therefore, they decided however to purchase optional coverage, collision coverage and cover the non-insured/underinsured motorists that could save their money in the long term.
"Definitely not insurance based on the single price," says Moore.
Charlie Schein, an independent agent in Connecticut that specializes in insurance for young adults, says that if your plans of son or daughter to use his car for a job then later at the College - delivery of pizza, for example - you should do is properly insured for such activities. Some insurance companies limit or exclude coverage for cars which are used for the work.
Schein adds that, if you let your child take a car to campus, no one should be allowed to drive the car. "If your child allows someone else to drive the car, you and your policy are automatically assuming the risk," he said.
