Anchor Intro: Life changes for you and your child when they head off to college. Those changes affect the cost and coverage of both health and car insurance. Bankrate.com explains the ins and outs of college insurance coverage.
Voice over 1: Heading off to college is a dream for a lot of American kids ... but without proper protection, there's a possibility of a nightmare or two down that road.
SOT: "Most parents and students forget the fact they'll be traveling long distances, setting up their first apartment, often staying out long hours. Their health insurance benefits need to be reviewed and looked at."
Voice over 2: So before you set up that dorm room, make sure your insurance is properly set up.
Voice over 3: Perfect example? That student car. Taking a car to college could mean higher premiums on the family policy, or it may not even be covered at all. Depends on grads, distance from home and the specific insurance company. So you've got to call and ask.
Voice over 4: What about the opposite? Your kid's away at school and their car is sitting in your driveway. Here you've got one less driver on the family policy, so you should call your insurance company and ask for a discount.
Voice over 5: And as soon as you hang up from the car insurance, call your health insurer as well. Is your student covered under your policy when they're at school? Should they find a doctor that's closer to the school? And check to see what the school offers, but be aware if you go that route, your student may not have summer coverage.
While college classes are often full of theory, here's an opportunity to learn something really practical. So make insurance a summer project for your student. It's a great life lesson. For Bankrate.com, I'm Kristin Arnold.