What your teen should know before going away to school

It’s almost back-to-school season, which may mean that your teen is off to university or college. Whether they’re headed across town or across the country, there are some insurance things they should consider before packing up and moving.

Are they going away to school?

No ➝ Their coverage should remain the same – all of their stuff will still be protected under your home policy. However, if they are going to be driving to school every day, be sure to update your policy so that they’re added as an additional driver (if they aren’t already).

Are they getting their own car?

If they’re commuting to a school in your city, they’ll need their own policy. The good news is there are a few ways they can save on their auto insurance premium – some companies might even offer student discounts.

Yes ➝ Are they going out of town or out of province?

Out of town

Anything from their textbooks to their laptop will still be covered under your home policy, even if they’re living in a student residence. If they’re moving out into their own rental, they should consider tenant’s insurance. It’s affordable insurance (averaging around $15-$40/month in Canada) that will cover their stuff in the event of a fire or theft.

Out of province

Your home policy should still cover them, even if you’re in Ontario and they’re in B.C.! However, if they’ll be driving a car in their school’s province, you’ll need to let you insurance company know and update your auto policy to meet the requirements of that specific province. In most cases, it’s easy to use their home-province licence, as long as they prove that they will be studying there full-time for a certain amount of time.

Did you know? Tenants insurance also covers them against liability – meaning they’re covered for any damage (caused by others) to their home or injuries/accidents that may happen on their property.

Will they be living with others?

Yes ➝ If they chose to get their own tenants insurance, it might not cover all of their roommates. It’s a good idea to double check with your insurance company or make sure everyone has their own policy.

Are they moving from residence to a student rental?

Renting for the first time can be intimidating, so it’s important for them to understand their rights as a tenant and what they’re responsible for, before they move out.

No ➝ Student towns can be a target for thieves, so it’s important to take all measures to prevent break-ins. Make sure they have a good relationship with their landlord – that way they can rely on them for any maintainance when it comes to the locks on their doors and windows. Also, it might be worth looking into home security systems – some telecom companies bundle these with home internet services, which could save them money!

Protect the things you love most.