Back to School: When Education Changes Your Insurance Needs Too

Back-to-school season is approaching, and for many Quebec families, it brings its share of changes. A young person may be starting CEGEP or university, using the family car more often, buying their first vehicle, or moving away from home to study in another city.

Between moving boxes, class schedules and adjusting to a new routine, insurance probably isn’t at the top of the list. Yet some of these changes should be reported to your insurance broker.

Here are a few things worth checking before the school year begins.

Will your young driver be using the family car more often?

Until now, your son or daughter may have only occasionally borrowed your vehicle. With the start of the school year, driving habits can change: daily trips to CEGEP or university, a part-time job, outings and other activities.

If a young driver regularly uses one of the family vehicles, it’s important to make sure this new situation is properly reported to the insurer.

How often the vehicle is used, who the principal driver is, and where the car is usually parked are among the factors that can influence the insurer’s assessment of risk and the premium.

What if they take your car with them to another city?

Is your child leaving the Laurentians to study in Montreal, Quebec City or Sherbrooke and taking a vehicle insured under your family policy?

Even if the vehicle still belongs to you, where it is being used and where it is primarily parked have changed. Your insurer should be informed.

Where the vehicle is kept and driven can affect the risk of collision, theft or vandalism, as well as the cost of insurance.

It’s better to notify your broker before the move than to discover after a claim that important information had not been updated.

First car? Check the cost of insurance before buying

Back-to-school season sometimes coincides with the purchase of a first vehicle.

Before choosing a car, consider getting an insurance quote. Two vehicles with similar purchase prices can have very different insurance premiums depending on their model, value, repair costs, popularity among car thieves and several other factors.

And when a student budget is already divided between tuition, gas, phone bills and the coffee required to survive exam season, a difference of a few hundred dollars a year can certainly matter!

Moving away from home: are their belongings still insured?

The car isn’t the only thing worth checking.

Is your young adult leaving the family home to rent a room, an apartment or share a place with roommates?

A laptop, phone, clothing, bicycle, furniture, sports equipment… once everything is added up, their personal belongings may be worth much more than you think.

In some situations, a student who temporarily lives away from home while attending school may continue to benefit from certain protections under their parents’ home insurance policy. But you shouldn’t assume this is automatically the case. Conditions and limits can vary from one policy to another.

A quick conversation with your broker before the move will help determine exactly what is covered.

What about tenant insurance?

Depending on the situation, a separate tenant insurance policy may be recommended or required.

It can protect the student’s personal belongings, but it also includes another particularly important form of protection: civil liability coverage.

Imagine an accidental water leak in their apartment that also damages the unit below. Or an incident for which your young adult is held responsible that causes property damage or injuries to someone else.

The financial consequences can quickly exceed the value of their furniture and computer.

Roommates: who is insured?

Sharing an apartment with three or four people can help keep expenses down, but it doesn’t necessarily mean that one roommate’s insurance automatically covers everyone else.

Each roommate should check how their personal belongings and civil liability are covered.

It’s also a good idea to make a quick inventory of the belongings brought into the apartment and keep receipts for valuable items. A few photos taken with a phone can also make things easier if a claim ever needs to be filed.

Don’t forget the bike

For many students, a bicycle becomes a preferred way to get around the city. And with the growing popularity of e-bikes, their value can quickly reach several thousand dollars.

It’s worth checking how the bicycle is covered under the home or tenant insurance policy, whether any coverage limits apply, and what deductible would have to be paid in the event of theft.

A new school year can mean several changes to report

Will your young driver be using the family car more often? Will the vehicle now be parked in another city? Are they buying their first car? Moving away from home or living with roommates?

Even a simple change in routine can affect insurance needs.

Before classes begin or moving day arrives, contact your broker at Assurances Groupe Vézina. They can review your auto and home insurance coverage and let you know whether any changes are needed.

Because a new school year is already an adventure. You might as well start it with the right protection.

Assurances Groupe Vézina — Insurance made simple.