Effectively Insuring Your College Student
Did you know that if your child is under 25 years of age and a full-time student in high school or college with good grades, your family may qualify for a discount on your car insurance? And, did you know that there are now offerings such as dorm insurance?
Reviewing these possible discounts and offerings should be part of your annual review with your insurance agent. You must be diligent about reviewing your insurance policies as insurance companies are experiencing great demand from consumers and therefore changing insurance offerings at a rapid pace to keep up with the competitive market. For instance, now some insurance agencies offer “micro insurance” or insurance for particular trips with your car, versus a flat, long-term rate. So, if your college student wants to drive cross country over spring break, you can specially insure that particular event with more comprehensive collision, for example.
An in-person meeting with your insurance agent will help determine your needs and enable your agent to make well-informed recommendations about insurance for college students. Not just you, but your child can meet with your insurance agent as well. A Q2 2016 TimeTrade survey of 1,064 consumers revealed that Gen Z (ages 20 and under) is one of the demographics that most prefer to meet in person with their insurance agent to discuss an important question.
Additionally, the same survey revealed that 77 percent of Gen Z would like to hear from their insurance agent when their policy is scheduled to renew, while 74 percent would be willing to schedule an appointment (online or through a mobile device) to meet with their insurance agent.
As a consumer, you should make it a habit to sit down with your insurance agent and review your family’s coverage on a regular basis. A “friendly review” with your insurance agent benefits you as a consumer and may save you money [and worry] in the long run.
To learn more about TimeTrade’s insurance survey results, click here.