In this ultra-unusual start to the school year, if you or someone you know is sending a child off to college, with a car, you’re going to want to read this.

This summer I asked my insurance agent to make sure my homeowner’s policy covered my daughter, Carly, in Ann Arbor. If you haven’t inquired whether your current homeowner’s coverage will cover your child away at school, you should. Some policies, such as mine, provides liability coverage for my full-time student away at college, along with 10% of the personal property coverage I have on my house here. If your company does not cover your student, you should certainly inquire about renter’s insurance. For just a few bucks a month, you will be protected from having to shell out the cost of replacing the contents should any sort of loss occur. College is expensive enough without having to worry about something like that.

But that’s not where they SAVE you money! During my conversation with my agent, she asked about Carly’s car. “Does she have her car in Ann Arbor, or is it garaged at your residence while she is in school?”  Since her car is with her in Ann Arbor, we looked into how changing her car from being garaged here versus Ann Arbor would affect my auto insurance premium. It turns out by garaging her vehicle in Ann Arbor, our annual premium was reduced by over $1,000! Your read that right, ONE THOUSAND DOLLARS PER YEAR!

It’s so important to review your policies often, to make sure you are properly covered, and of course, saving money anywhere you can without giving up coverage. If you want to give me a call, I’d be happy to review your policies with you to make sure you have the coverage you need.

In fact, look out for my very important blog next week regarding the “family step-down” provision in many popular auto insurance company policies. If you are insured with Progressive, Geico, USAA, AAA and others, make sure to read the article next week. You and your family may not have the protection you think you have!

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