What College Graduates Need To Know About Auto Insurance

You’ve proudly watched your child graduate from college (and celebrated the last of the tuition bills!)  Now they’re searching for their first “real” job and ready for a new phase of life.  

This is what you and your new graduate need to know about their insurance.

First, in most situations, they can remain on your auto insurance policy as long as they are living in your household.  If they’ve moved back home while job hunting, you can keep them on your policy.

But once they decide to move out, it’s time to look at other options.  Some of this will depend on who is the owner of the car and if you’re living in the same state.  The best option is to talk to one of our helpful agents to discuss your particular situation in detail.

Remember, regular on-time insurance payments can help your son or daughter establish credit history and even serve as a reference when renting an apartment.

If your graduate is moving out on their own, you’ll also want to get some information on renters insurance.  It will protect their belongings and protect you from any liability for damage they might cause to a residence (even if it’s just an accident, like a small kitchen fire.)  In most cases, a parent is a co-signer for a lease and needs to make sure this protection is in place. Until your child is totally on their own, you can face potentially expensive claims or lawsuits.

The end of college marks some big transitions into adulthood.  Help your new graduate  make smart financial decisions and establish a great start.  We can help!  Schedule a personal review and quote today with SAV-ON Insurance. Call 888-867-2866 or get a quick quote at www.sav-on.com.