Wednesday, February 22, 2012

Insuring Your College Student

By: Edward L. Blais, JD, CIC

If you have children away at college, it may be wise to take a second look at what kind of insurance coverage they have for their car and any expensive items they have at school.

Many parents jump at the opportunity to lower their auto insurance rates by taking their child off their auto insurance while they are away at school without their car. However, this may not be the wisest move. Consider the risk if your child borrows a friend’s car while at school. Blais Insurance suggests you leave your college driver on your insurance policy to avoid uncovered liability claims. If you tell your insurer that you child is away at school and does not have access to their car to drive, then your insurer may reduce your rate because your college driver doesn’t have immediate access to the car and is now a lower risk.

Not only should you consider keeping your college student on your auto insurance, but you should also think about all the expensive items such as phones, iPods, laptops, TVs and cameras that accompany most college students to school. If any one of these items were stolen or damaged, it could be very costly to replace it. You have a couple of options when it comes to insuring your child’s belongings. You should review your homeowner’s policy before your son or daughter goes off to college to be sure it extends to coverage for items in your child’s dorm.

If you are interested in discussing these options for your soon-to-be college student, contact Blais Insurance at 401-725-0070 to learn more.

Wednesday, February 8, 2012

Don’t Let Your Insurance Lapse When Selling Your Vehicle

By: Edward L. Blais, JD, CIC

Have you ever had a car dealership ask you for a copy of your insurance policy before test-driving a car? We’re guessing not. A dealership wouldn’t ask you for your insurance because they already have that detail covered with their own coverage for their cache of cars. Just like a dealership doesn’t take chances when giving test drivers permission to take their cars for a trial, neither should you when allowing someone to test drive the car you’re trying to sell.

No one buys a used car without test-driving it first, so it is important to keep your insurance on your vehicle during the time you’re trying to sell the car. If an accident occurs, the owner of the car would be primarily responsible.

When you see the increase in your policy from adding a new vehicle don’t fret, once the old vehicle sells, perhaps within a week or two, the premium will go down upon deleting the now sold vehicle. At Blais Insurance, we are always available to answer your insurance questions, and welcome the opportunity to do so. Please call us at 401-725-0070.