When a child is getting ready to head off to university or college, there’s a lot that needs to be organized, from finding a place for them to live, to the packing and moving of all of their belongings, and the selection of courses. Another very important thing you and your child will want to check off the to-do list is securing the insurance coverage your child will need while they’re away from home.
Ask Your Broker
As one of the leading insurance companies in Nova Scotia, parents often ask us how their premiums will be affected when their child goes off to attend a post-secondary school, and whether or not their child is still covered by their home insurance policy. Because every personal insurance company and policy is different, the best thing to do is to ask your broker.
Insure their Belongings
Because post-secondary schools don’t take responsibility for items that are lost or stolen, you will want to ask your broker what your options are for insuring your child’s belongings. If they aren’t still covered by your home insurance policy, you may want to look into purchasing a policy that will cover your child’s laptop, bike, jewellery and other valuables for a limited amount of coverage. Remember, theft isn’t the only thing that poses a risk to your child’s things while they’re away; ask about coverage for accidental damage, too.
For some, a child that goes away to attend a university or college can still be included in a policy for emergency medical coverage. For those whose children are attending a school in a different province or even country, however, you will want to ensure that they have enough emergency medical coverage, should they need it.
It can be stressful for parents and children alike when a young person leaves home for the first time. Reduce the amount of stress that’s involved with this exciting milestone by ensuring that your child has adequate coverage. Call us at (902) 453-2273 to talk to a broker and to receive a free quote on the coverage your child will need.