Congratulations to the High School Graduates!!!!!

 

It’s that time of year that every high school is having their graduation ceremonies.  It’s an exciting time that the end of the year and primary schooling is done.  For some it is the beginning of their college years.  Not all kids and parents can afford to pay for the college up front.  Some have to take out student loans to fund their child’s college education.  Below are some thoughts as students prepare themselves this summer to attend college.    

 

 

Life Insurance

 

Students for the most part are not in a position of having someone dependent on them.  But it’s a good idea to have some sort of life insurance for the following reasons. 



1.      Any student loan that the parent co-signs could be a debt that would have to be paid in case of the death of the student.

2.      Having money for burial expenses in case of the death of the student. 

3.      This will be the lest expensive life insurance the student will ever have. So why not get their life insurance needs set up while it’s still inexpensive.

4.      Medical conditions can affect the rate and insurability of a person.  Why not get the student set up for their life insurance plan while they are young and healthy. 

 

 

Renters Insurance

 

For the most part parents don’t think about getting renters insurance for their student at college.  But there can be some benefits for doing so.  Usually your home policy will extend coverage of personal items up to 10% off premise.  This would include a child away at college.  There is a downside for relying on your homeowner’s policy to cover your student’s items away from home.  If there is a claim for the theft of items it could affect your rates now that you have a claim on your policy.  Or if you have a couple of claims on your home policy that could get you into a situation where an insurance company might non-renew your policy. 



The second concern is liability.  Most home policies do not extend liability to children away at college.  So if your child does something that cause’s great damage to their dorm or apartment they could come back and make you pay for it.  By getting a renters policy it gives that protection for liability.

 

 

Auto Insurance

 

If your student doesn’t need a car at college you might be able to get an extra discount for your auto insurance.  Some insurance companies will offer you an extra discount when your student is away at college without a car.  Check into it.  Also if your student is getting good grades most insurance companies offer extra discounts for this as well.  There might be some other discounts for students.  Give your agent a call and see what’s available.   





Raymond E. Grim is an insurance agent with American Family Insurance.  He has been serving the Surprise, AZ area since 2001.  Raymond specializes in auto insurance, home insurance, life insurance, and business insurance.  As an expert in the insurance business he has always put the needs of the client first.  Finding the right protection at the right price.   



#SurpriseInsuranceAgent #Graduation #Insurance #InsuranceAgent #CollegeLife #College #LifeInsurance #AutoInsurance #RentersInsurance

 







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