Before your child hits the dorms, kit them out with essential insurance.
Growing up is a part of life. Going to college is an experience for any teen. For the parents, it can either be newfound freedom or constant worry. Whatever feelings you have about your child heading off to college, every parent will want to make sure that they’re safe.
A reliable form of protection is insurance. Before you start moving in boxes of valuables into their dorm, update your college kid’s insurance!
You can start be contacting your insurance professional to find out how much coverage your homeowners or renters insurance policy will provide for your child’s personal possessions if they are living in a dormitory. If they are living off-campus, then you can look into purchasing a renters insurance policy.
Make a college inventory.
Always make a college inventory list so that you and your student know exactly what items ...
Renter’s insurance protects your belongings and living space!
From the kitchen to the living room to your favorite sweater, most roommates share everything. Roommates are often the siblings you never asked for (or got), but there’s a mutual likeness when sharing a living space with another human being day in and day out.
Whether you watch reruns of The Voice together every night, or stay in your room to avoid awkward small chat, many roommates think that if one of you has renter’s insurance, the coverage extends to the entire apartment and all of the contents.
This is a costly misconception. Renter’s insurance protects the property of the people listed on the policy. Unless your roommate is listed as an additional insured on your insurance policy (or is a domestic partner, spouse, or a member of your family), their things will not be covered.
Here’s the lowdown on renter’s insurance for roommates:
A roommate does ...
All parents want to keep their children safe when in the car—a car seat is there to protect little ones.
When tucking your child into their car seat, it’s imperative to ensure that they are in the right seat, facing the right way, and secure for the entire journey.
There are many car seat choices on the market! With age, your child will progress from rear-facing car seat to a forward-facing car seat, to a booster seat, to only a seat belt.
Here is a breakdown of the basics:
Rear-Facing Car Seat
Birth – 3 Years
Until your child reaches the top height, or weight limit allowed by your car seat’s manufacturer, your child should remain in a rear-facing car seat in the backseat of the car. Keep your child rear-facing for as long as possible as this is the best way to keep them safe. Once your child outgrows this seat, your child is ...
Sorting out your paper mountain – which documents should you keep?
For many who haven’t opted to go paperless, receipts, bills, pay stubs, tax forms, and other financial documents flood into the mailbox every month. For those who like receiving paper documents monthly, be aware of which financial documents you should keep and which ones you can throw away (recycle).
For your guide on what you should file away safely and what to slide into the shredder, read below!
Receipts – For anything you might itemize on your tax return, keep for three years with your tax records.
Home improvement records – Keep ahold of these for at least three years after the due date of the tax return that includes the income or loss on the home when it’s sold. When aiming to sell the house that you have made improvements to, aim to keep receipts for seven years as these may ...
Leaving parents home alone, protected.
Kids gone off to college? Downsized into a smaller house now your children have moved out? There are many reasons why the children flee the nest, leaving parents feeling the ‘empty nest’ syndrome.
Many parents wonder if life insurance is needed, now that their children have left home. The answer is – quite possibly! Here are 5 reasons why you should still own life insurance:
To meet goals
If your children are in college and are not completely financially independent, life insurance can help. From kids’ college tuition and living expenses, to payments for the surviving spouse and children, finances can be aided.
To create a financial “safety net”
Emergency funds help in the event of a unplanned financial payment, so if a household doesn’t have an emergency fund, the post-death family will be even more financially vulnerable without one. Furthermore, it might also be somewhat more difficult for the ...