You’ve paid the tuition, you’ve got the new laptop. What else do you need for the first day of post-secondary school…insurance!
If you’re child has temporarily left home for a post-secondary school education, there’s more to it then putting together the new desk with that elusive allen key…you need to make sure you…and they, are properly covered.
You might be thinking that extending coverage to your child’s second hand yard sale furniture…or let’s face it, milk crate end tables, is pointless, but what about all the pricey electronics the modern students are required to have; laptops, tablets, cell phones, cameras, etc? You don’t want to find out after the fact that their $2000 laptop isn’t covered. Most insurers will extend your policy to cover your child’s belongings depending on how far from home the institution is.
For students who are taking a car with them, as long as you remain in province, your existing policy may be adequate. Your insurer must be informed to avoid any denial of claim (for failing to provide them with this additional information) and a small additional premium may be charged. If you are going out of province for school, check with the local Ministry for the rules of that province. For example, you may find that you need to get a new drivers license, policy and register your vehicle in that province if you plan to go there for longer than 6 consecutive months in one calendar year. Keep in mind, most academic years are spread over 2 calendar years.
A SurNet broker can answer any questions you may have to prepare you for the big day your child leaves home for school. They can even offer advice on what coverage is needed for when you turn their old bedroom into a state of the art entertainment room!
