2013 August Newsletter Article 1

Do You Have a College Student in Your Household?

If you’re helping one of your children go off to college for the first time, or return to college, we may be able to help you save some money and gain some extra protection.

• Your homeowner’s insurance might extend to his or her belongings. Usually, the belongings of your college student will be covered by homeowner's insurance, but it’s best to be sure. If for some reason the coverage doesn’t extend, consider purchasing renter's insurance. Students who live off campus may need to purchase their own renters insurance if they are not covered by their parents' homeowners policy.
• You could get a discount on your auto insurance. Because you’ll have one less driver living at home when your son or daughter goes off to school, your household might get a discount — as long as they don’t take a car along. If he or she does take a set of wheels, talk to us so we can review your coverage to make sure your child is properly insured.
• Student loans might call for extra protection. If student loans are involved, you might want to consider life insurance for your son or daughter. It can help financially in the case of an unexpected death.

• Insurance can help in the most unexpected cases. Accidents can happen. Extra liability coverage through an umbrella policy (personal catastrophe liability) can help protect you financially should a lawsuit ensue.

Please contact Ashmead Insurance so we know about any changes happening in your household. It’s always best to double check your specific situation and coverage needs. Call us at 215-822-7573.