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    Personal Insurance Blog

    Insurance University: Tips for the College Bound

    Posted by Gordon Atlantic Insurance

    Sat, Feb 25, 2017 @ 12:06 PM

    Insure your college student with personal from Andrew Gordon Inc Insurance Norwell MAFor many young adults, college is an incredibly liberating experience and a time of emotional and intellectual growth as fledgling freshman adventure further along the path of higher education. Unfortunately, many of the high tech gadgets and electronics that pepper dorm rooms can also find it an incredibly liberating experience… as they adventure out of the dorm in the hands of a thief.  The reality is that theft on college campuses does occur, according to the Newton’s 2nd law of theft:

    Expensive Electronics + Doors Left Open + The Occasional Dorm Party = Theft

    Fortunately, insuring the things your student takes away to college can be insured easily and affordably. Here’s what you should know.

    1. You’re probably already covered: Most students are covered under their parents’ homeowners policy, as long as they still list their primary residence as their home address rather than their dorm room. No need to fear if your student has enough electronics littering his or her dorm room to disrupt aircraft radar within a five mile radius; there is generally a 10% coverage rule that protects 10% of the value of your personal belongings worldwide (which includes hotel rooms, temporary residences, etc).  Even so, it’s probably a good idea to call your insurance provider and double check that your college bound daughter or son is covered.
    2. Yes, that includes Healthcare: A recent change in national law recently superseded the state’s coverage policy.  The old law stated that all full time students who are still dependent are covered under their parents’ policy to age 25. The new healthcare legislation further extended this to all non-married children up to 26 years of age.
    3. The abandoned car: many students go off to college and leave their cars at home. Make sure you aren’t paying top dollar for a car that will sit in your garage all year and only endanger the lawnmower next to it. Call your insurance agent and ask for a discount if the car will not be at school.  Furthermore, ask if good student discounts are available should your studious scholar return home to use the vehicle. 
    4. After Graduation: After your college student graduates and takes up residence elsewhere, the rules of the game change. They will no longer be covered under your homeowner’s policy, but will instead most likely need tenant insurance for their apartment or rented house. However, these policies are very affordable and will cover anything in the apartment that would break if someone “turned the apartment upside down and shook it” (Meehan Insurance).

    Cover your college bound student with personal from Andrew Gordon Inc Insurance Norwell MAEven with this information, it’s a good idea to call your professional insurance provider and have a conversation about your son or daughter’s coverage before they leave for college. The short amount of time on the phone could save you time, money, and headaches in the future.

    Additionally, an ounce of prevention is worth a time honored cliché (or a pound of cure). It’s worth taking the time to prevent the theft of items that your students own. You can protect laptops from theft by purchasing a notebook combination lock (several affordable products are listed here). Another good use of time is to photograph all valuable items and take down serial numbers and other information then store them in a GoogleDocs document; if you have a google account, you already have access to this feature. If you don’t, setting up an account is free, easy, and you can access your documents from any computer with internet access. Taking preventative measures before the next dorm party can keep your son or daughter’s electronics from “walking out” in the middle of the chaos.

    For more insurance tips, information, resources, and quotes, visit us at the A. G. Gordon, Inc website. Learn more about personal insurance here

      INSURANCE QUESTION?

    Corbin Foucart

    Tags: home, theft, auto, policy, insurance, student, massachusetts, prevention, university, college

    Six Things to do Before Your Child Leaves for College

    Posted by Gordon Atlantic Staff

    Fri, Aug 12, 2016 @ 11:31 AM

    In a few weeks, I will pack up and head for my sophomore year of college.  My experiences last year at school and this summer working at Gordon Insurance have opened my eyes to a few things that are sometimes overlooked when sending a child off to school.  

    1. Go shopping. Your child is essentially moving out and living on their own.  Things like nail clippers, tissues, extension cords, scotch tape, or an umbrella can be overlooked, as they usually can be found at the back of a closet or drawer at home.  Also, make sure they have extra socks, as many will get lost in the dorm laundry room.  It is totally normal to feel as though you have way too much stuff the first time around.  Your child will figure out what they do and don’t need over the course of the first semester.

    1. Make sure your child has proper life insurance. For many families, sending a child to college means taking out loans.  These loans come in two types: Federal and Private.  If anything were to happen to a student who is still paying off a federal loan, all debt would disappear at death.  However, this is not the case with a private loan.  Most private loans require a co-signer, whether it is a parent or a spouse, who would take on the responsibility of paying.  Be aware that sometimes banks will require an accelerated rate of payment or even demand to receive all of the money immediately.  This is why adequate life insurance for your student is important.  A good policy will help soften the blow of these payments.

    1. Teach them the basics. In some ways, dorm life is like summer camp, but it can feel overwhelming (especially in the last weeks before move in day).  Your 18 year old probably has basic life skills down, but it doesn’t hurt to go over a few things before they leave for a sense of security.  Teach them how a bank account works and how to cook basic things like pasta or brownies.  If they are going to school in the city, go over the public transportation system.  Have them download Venmo, an app that allows you to transfer money to and from your friends (or your parents).  Not many people keep cash on them at school, so it is very helpful.

    1. Educate your child about identity theft. Although this may seem a little bit extreme, college students are easy targets for identity and credit card fraud as they are on their own for the first time and may not be as cautious.  Make sure your child knows their social security number, but warn them to share it sparingly and to keep any physical documents where it is listen in a safe place.  Also, when asked for personal information from the school, both you and your child should ask why the information is needed and how it will be used.

    1. Get an “Away at School” discount on your auto insurance. Most companies will offer a discount on auto insurance while your child is away because they will not be using the car.  In order to get this discount the school must be at least 100 miles away from where you live.  This discount is not applicable if your child brings their car to school, but it is still important to call your insurance agency if they are bringing a car with them, as adjustments must be made to your policy.

    1. Spend time together. In a few weeks, you will be in contact only by means of FaceTime or the occasional text.  Plan around the whole family and do something fun that you can hold onto in the emotional weeks ahead.  This is an exciting time! Enjoy it and good luck.

     
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    Tags: identity theft, student, parents, life insurance, Auto Insurance, college, insurance discounts, family

    Insurance for the College Student

    Posted by Gordon Atlantic Staff

    Fri, Jun 07, 2013 @ 12:11 PM

    Insure your college student with home auto life personal insurance from Andrew G Gordon IncYou can find a college student almost anywhere you go. Some college students stay close to home, others go far, far away. Regardless of where your student ends up, one thing is certain: they're going to need insurance.

    Health Insurance

    Most colleges and universities require their students to have some form of health insurance. Luckily for me, I'm staying in state (Go Huskies!) and my health insurance for MA will still cover for all my health insurance needs. However, not all college kids stay in their home state. In fact, one of my best friends is traveling across the country to the west coast.

    You should always check with your insurance provider about the cost of insurance out-of-state, if it is even offered. If not, you could always have your student go with health insurance offered by the university. Finding information about university health insurance should not be too difficult. Search the area of the website dedicated to new students. Websites typically list required immunizations as well as the insurance plan required by the school. If you have existing insurance that works, you can waive out of the university insurance plan. If not, most universities will make that plan mandatory.

    Most schools have a student health center, and students must pay the fee to use these facilities regardless of their insurance plan. Again, these plans differ from school to school, and state to state. Be sure to check with your student's college or university. Health care is essential, and I'm sure you'll feel loads better with your student protected by health insurance.

    Get auto insurance for your college students car with Andrew G Gordon IncAuto Insurance

    Some colleges and universities allow students to bring cars to campus. Again, I'll be living in the city, so transportation for me is going to consist of walking and the occasional T ride. I don't see any need to have my own vehicle when everything will be so close to me. That being said, not all colleges and universities are in the city, and some people just downright hate city life. That's fine. But if they want a car, they'll have to deal with some car insurance stuff.

    First of all, you need to specify with your insurance company about whose name the car is under, which state the car will be located, who the primary driver will be, what type of insurance you want, etc. And then, you might have to deal with some cost changes in your policy.

    More often than not, college students that do not drive around are taken off the insurance policy for that period of time, and understandably so. Why pay for insurance that will not be put to use? However, if that student intends on driving during the uninsured time period, things could be pretty bad.

    Make sure that all types of auto insurance- insured or uninsured, in-state or out-of-state- are dealt with before your college student heads out on his/her way.

    Get homeowners insurance for your college students house with Andrew G Gordon IncHomeowner's Insurance

    College living arrangements usually fall under one of three categories. 1) Your student pays a room and board fee and his/her college or university and lives on campus. 2) Your student commutes to and from college and continues living in your home. 3) Your student lives in an apartment off campus with maybe a roommate or two.

    Now, if your student falls under category 3, you're going to need to have the insurance talk with them. Your student is going to have to have insurance for the apartment- there's no way around that. It might seem strange to them that they have to deal with homeowner's insurance while attending college, but it's for the best and is absolutely necessary.

    Insurance in Your Student's Future

    Now is the time where your college student should start becoming more aware of insurance and what it entails for them. After all, once college ends, they're going to have to be responsible for their own insurance needs. Start educating them, slowly but surely, with our insurance resources pages. We have short videos with explanations, and plenty of blogs to teach them tidbits of insurance info. Stay up to date by following us on Twitter and liking us on Facebook! Until then, if you have any insurance questions, be sure to contact us.

     INSURANCE QUESTION?

    Julia Kirslis

    Tags: home insurance, health insurance, student, insurance for the future, future, Auto Insurance, university, college

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