Here is an excerpt from a new blog post at GreggMarcus.com:
When your child is going off to college, insurance coverage can
become the primary concern in a parent’s mind. If your child is
bringing a car with them to college and will be dorming as well, then
your worries about coverage can be doubled. In this article, Long Island Insurance Executive Gregg S. Marcus seeks to relieve some of your insurance coverage worries.
Many parents question how they can save money on insurance for their
newly graduated child who is now heading to college. If your son or
daughter intends to take a car to college with him or her, you may have
concerns about whether or not you should give them their own insurance
plan in order to save money. Although putting your child on a separate
insurance plan may save you some money, it is always a better choice to
keep your child on the family auto insurance plan because they will have
more coverage in case of an accident. Before heading off to college,
it is essential that your child is fully covered by insurance, which the
family auto plan will certainly allow for. In order to save more money
and receive more coverage from insurance providers, you could show
proof of the student’s good grades and receive a “good student
discount”. Also, if your child is dorming a far distance away from your
house, meaning 75 miles away or more, your insurance provider can add
coverage and deduct from your insurance payments due to a “distant
student discount”. The option of keeping your child on the family auto
plan is helpful in case your child decides to take the family car out
for a ride when they are home from college. In case of an emergency,
your son or daughter may be asked to be the designated driver, in which
case having all of the cars under one family plan would be beneficial to
you.
To view this post in its entirety, click here to visit the Gregg S. Marcus official website.
