How to protect your family
Your kids are older and now want the keys to your car.
Your oldest child may be preparing to go to college. You
may have a need for a different type of vehicle. These
are just a few of the issues that established families
face when it comes to the kind of auto insurance they choose.
Here are some things to keep in mind when considering all
these changes:
Time for practice, kids!
At this stage of your life you may be frantically transporting
your kids – and their friends – to sports
practices and other after-school activities. Given these
chauffeuring responsibilities, you might want to consider
increasing your liability insurance in case of an accident.
Can I have the keys, please?
When adding your teenage driver to your policy, be prepared
to pay higher auto insurance rates. Industry figures
show that a teenage female driver can cause rates to
increase as much as 50 percent, while a young male driver
can boost costs even higher.
Off to college!
Your teenager has graduated from high school and is moving
away to college. That means it’s time to re-evaluate
both your policy and your child’s policy. If you
plan to provide your child with an automobile to take
to college, you’ll want to check on the need for
a separate auto insurance policy. If your child is on
your policy, away at college but won’t have a car
at college, you may qualify for a discount.
Eye on the future!
Hopefully, your success in the job market is causing your
net worth to grow. So you may want to consider purchasing
an “umbrella policy” to increase your auto
liability coverage in order to better protect your assets.
Questions or concerns?
The Ohio Department of Insurance regulates agents and companies
that are licensed to sell insurance in our state. The
Department’s Consumer Services representatives
can answer your insurance questions and investigate your
complaints about an insurance company or agent. Call
1-800-686-1526.
