by benpage1974 | Feb 10, 2022 | Insurance Tips & Tricks
Sending your teen off to college is a significant milestone filled with excitement, anticipation, and a bit of apprehension. (I know because I’m in the middle of it as I write this.) Amidst the whirlwind of emotions, addressing insurance concerns during this transition is essential. To help you navigate insurance for your college-bound teen, we’ve created this detailed guide that answers common questions, and uncertainties parents may have. Remember that it’s always a good idea to consult with your insurance agent to ensure your specific situation and needs are addressed.
Auto Insurance for College-Bound
Teens Understanding how your teen’s auto insurance coverage may change once they go to college is crucial. Factors like location and vehicle usage can affect the policy. Typical auto insurance policies will cover your teen if they are listed as a driver on your policy. Still, informing your insurance agent about your teen’s college plans is essential, so they can help you adjust the policy accordingly.
Renters’ Insurance for College Dorms or Off-Campus Housing
Your homeowner’s insurance policy may offer limited coverage for your teen’s belongings in a college dorm, usually up to a certain percentage of your policy’s personal property limit. A standalone renters insurance policy is advisable for off-campus housing, as it covers personal property, liability, and additional living expenses.
Health Insurance for College Students
A common question parents have is about health insurance options for their college-bound teen. Under the Affordable Care Act, children can remain on their parent’s health insurance plan until they turn 26, regardless of their marital, financial, or educational status. However, you may also explore coverage options through the college or individual policies, which might offer additional benefits or cater more specifically to your teen’s needs.
Identity Theft Protection
Considering the increased risk of identity theft for college students, adding identity theft coverage to your insurance policies can offer peace of mind. This additional coverage typically includes monitoring services, financial assistance, and access to professional help for identity theft victims.
Insurance Discounts for College Students
Potential discounts for college students include good student discounts, which reward students who maintain a certain GPA, and away-from-home discounts, available when your teen attends college more than a specific distance from home and doesn’t have a car on campus.
Preparing for Emergencies:
Travel Insurance and Roadside Assistance Travel insurance and roadside assistance are valuable for college students, especially those studying abroad or traveling long distances. Travel insurance can cover medical expenses, trip cancellations, and lost luggage, while roadside assistance provides services like towing, battery jump-starts, and flat tire changes.
Communication and Education:
Keeping Your College Student Informed Involve your college-bound teen in the insurance decision-making process to help them understand its importance. Open communication about coverage needs can set them up for a successful and responsible future.
We’re Here to Help!
Addressing insurance concerns when your teen goes off to college is crucial for their protection and your peace of mind. This comprehensive guide will help ensure your teen is well-prepared for this exciting new chapter. Remember that each insurance policy is unique, so consult with your trusted insurance agent to discuss your situation and ensure your teen is adequately covered during this transitional period.
Ben Page, a Business Development specialist with over 20 years in the insurance industry, is an expert in Property & Casualty, Life, Health, and Disability insurance. Ben is licensed in all 50 states and dedicated to empowering clients with insider knowledge and making insurance more accessible. Passionate about client-centric service, he has helped build several successful insurance agencies. Ben enjoys Jeeps, Rock and Roll, cheese, movies, and spending time with his wife, three kids, and their golden doodle when not working.
by benpage1974 | Feb 10, 2022 | Insurance Tips & Tricks
As a parent of a teen driver and another just starting the process, I understand firsthand the excitement and stress of this new phase of life. As your teens start Driver’s Ed and prepare to hit the road, it’s essential to consider the insurance implications of having a young driver in your household. In this guide, we’ll walk you through the process of adding your teen to your insurance policy and explore ways to keep your rates as low as possible.
When to Add Your Teen to Your Insurance Policy
- Timing is crucial; add them when they get their driver’s license. Some insurers may require adding them when they give a learner’s permit or provisional license. Check with your agent to ensure proper timing and coverage.
- Check with your insurance agent for specific requirements in your state.
- Consider Graduated Driver Licensing (GDL) laws in Idaho, Utah, and Wyoming.
The Impact on Insurance Rates
- Yes, rates will likely increase when adding a teen driver.
- Teens are considered high-risk drivers due to their inexperience.
- Statistically, they are more likely to be involved in accidents.
Ways to Keep Insurance Rates Lower
- Good student discounts: Encourage your teen to maintain good grades.
- Driver’s education: Enroll them in a certified driver’s education course.
- Defensive driving courses: Additional training can lead to discounts.
- Vehicle choice: Choose an insurance-friendly car (more on this in Section 4).
- Telematics discounts: Some insurers offer discounts for using telematics devices that monitor driving habits.
- Multi-policy discounts: Bundle your auto, home, and other insurance policies.
Insurance-Friendly Cars for Teens
- Look for vehicles with high safety ratings, such as those from IIHS or NHTSA.
- Avoid high-performance or luxury vehicles, which can be more expensive to insure.
- Some insurers allow you to assign a specific vehicle to your teen, which can help keep rates lower.
Setting Up a Separate Policy for Your Teen
- While setting up a separate policy for your teen might seem tempting, this option is typically unavailable if they live in your household.
- Insurance companies with the best rates often require all drivers in the household to be listed on the primary policy.
- Be sure to consult with your insurance agent to determine the best approach for your specific situation.
Graduated Driver Licensing (GDL) Laws in Idaho, Utah, and Wyoming
Idaho:
- Supervised Instruction Permit (SIP): At age 14.5, teens can obtain a SIP, which requires a supervising driver (at least 21 years old) in the front seat. The SIP must be held for at least six months.
- Restricted driver’s license: At age 15, teens can apply for a restricted license after completing the SIP requirements, passing a driving skills test, and completing a driver training program. Restrictions include nighttime driving and passenger limitations.
- Unrestricted driver’s license: At age 16, teens can apply for an unrestricted license if they have held a restricted license for at least six months and have no traffic violations on record.
Utah:
- Learner’s Permit: At age 15, teens can obtain a learner’s permit, which requires a supervising driver (at least 21 years old) in the front seat. The learner’s permit must be held for at least six months.
- Provisional License: At age 16, teens can apply for a provisional license after completing the learner’s permit requirements, passing a driving skills test, and completing a driver education course. Restrictions include nighttime driving and passenger limitations.
- Unrestricted driver’s license: At age 18, teens can apply for an unrestricted license if they have held a provisional license for at least six months and have no traffic violations.
Wyoming:
- Learner’s Permit: At age 15, teens can obtain a learner’s permit, which requires a supervising driver (at least 18 years old) in the front seat. The learner’s permit must be held for at least ten days.
- Intermediate License: At age 16, teens can apply for an intermediate license after completing the learner’s permit requirements, passing a driving skills test, and completing a driver education course. Restrictions include nighttime driving and passenger limitations.
- Full Privilege License: At age 16.5, teens can apply for a full privilege license if they have held an intermediate license for at least six months and have no traffic violations on record.
Understanding the insurance implications and potential ways to save is crucial as your teen starts their driving journey. While it can be stressful for parents, being prepared and informed can help make the process smoother. Contact the Page Insurance team with any questions or concerns – we’re here to help guide you through the complexities of insuring your teen driver.
Ben Page, a Business Development specialist with over 20 years in the insurance industry, is an expert in Property & Casualty, Life, Health, and Disability insurance. Ben is licensed in all 50 states and dedicated to empowering clients with insider knowledge and making insurance more accessible. Passionate about client-centric service, he has helped build several successful insurance agencies. Ben enjoys Jeeps, Rock and Roll, cheese, movies, and spending time with his wife, three kids, and their golden doodle when not working.
by benpage1974 | Feb 10, 2022 | Insurance Tips & Tricks
Everyone loves a good vacation, whether relaxing on the beach, hitting the slopes, or exploring a new destination. Us Page boys are passionate about traveling and experiencing new adventures. However, it’s easy to forget that accidents and mishaps can happen even when you’re away from home. A little preparation and insurance can protect you and your loved ones against the financial fallout from unexpected events. This blog post will provide detailed information on various insurance concerns to help you make informed decisions before embarking on your next trip.
Rental Car Insurance
Consider purchasing the Loss Damage Waiver (LDW) the rental agency offers when renting a car. Doing so can help you avoid immediate reimbursement for repairs, eliminate deductibles, and prevent potential rate increases on your personal auto policy. It’s also essential to know the extent of your personal auto liability policy and credit card rental car coverage, as these can vary significantly. Typically, your personal auto insurance will only extend protection to rental cars within the US and, at best, only extends the level of coverage you have on one of your cars (so if you don’t have full coverage on a car, it’s not going to do much for you). When traveling abroad, purchasing maximum liability limits through the rental company’s coverage is best.
Protecting Your Valuables
Vacations often involve bringing valuable items like cameras, smartphones, and recreational equipment. Ensure your homeowner’s or renter’s insurance policy is current and provides sufficient coverage for your possessions in case of theft, accidental damage, or loss. If you have high-value items, consider adding a Scheduled Personal Property Endorsement to your policy for additional coverage and broader protection, including accidental loss.
Personal Liability Coverage
Accidents can happen on vacation, and you could be held liable for someone else’s injuries or damages. Your homeowner’s or renter’s insurance policy typically includes personal liability coverage, which can extend to incidents that occur while you’re on vacation. Be sure to review your policy and ensure you have adequate coverage for potential situations that may arise during your travels.
Health Insurance Considerations
Before setting off on your trip, contact your health insurance provider to verify the extent of your coverage, both within and outside the United States. Remember that your policy may not cover high-risk activities such as skiing, scuba diving, or mountain climbing. Additionally, some policies may not pay foreign healthcare providers directly, meaning you could be charged upfront for services. If necessary, consider investing in a medical travel insurance policy for added peace of mind and protection during your trip.
Travel and Evacuation Insurance
For major trips, purchasing a comprehensive travel insurance package that includes medical coverage, trip cancellation or interruption coverage, lost or stolen baggage coverage, and even accidental death coverage might be wise. These plans can provide additional protection for unforeseen circumstances during your vacation, ensuring you and your loved ones enjoy a worry-free trip.
We Can Help!
Planning and preparing for your vacation is crucial to ensure a stress-free and enjoyable experience. By considering various insurance concerns and making informed decisions, you can protect yourself and your family from potential financial fallout due to unexpected events. At Page Insurance, we’re here to help guide you through the complexities of insurance and ensure you have the coverage you need for a memorable and worry-free vacation. Happy travels!
Ben Page, a Business Development specialist with over 20 years in the insurance industry, is an expert in Property & Casualty, Life, Health, and Disability insurance. Ben is licensed in all 50 states and dedicated to empowering clients with insider knowledge and making insurance more accessible. Passionate about client-centric service, he has helped build several successful insurance agencies. Ben enjoys Jeeps, Rock and Roll, cheese, movies, and spending time with his wife, three kids, and their golden doodle when not working.
by John Page | Feb 10, 2022 | Insurance Tips & Tricks
Congratulations on expecting a new baby! This is an exciting and joyful time for your family. As you prepare for your little one’s arrival, planning for their future, including considering your insurance needs, is essential. This blog post will guide you through crucial insurance tips to protect and secure your growing family.
Life Insurance
Life insurance is crucial for new parents. It provides financial security for your family in the unfortunate event of your passing. There are two main types of life insurance: term and whole life. Term life insurance covers a specific period, while whole life insurance offers lifetime coverage with additional investment options.
To determine the right amount of coverage, consider factors such as income replacement, outstanding debts, and future expenses like college tuition. When choosing a life insurance policy, consider the premiums, coverage amount, and the insurer’s financial strength.
Statistics show that 1 in 3 families would face financial hardship within a month of a primary earner’s death. This highlights the importance of having life insurance to protect your family’s financial well-being.
Disability Insurance
Disability insurance is another essential consideration for new parents. It provides income protection in case you become disabled and unable to work. There are short-term and long-term disability insurance options, which cover disabilities lasting a few months to several years or more.
Factors affecting the cost of disability insurance include your age, health, occupation, and the length of the coverage period. For working parents, disability insurance is vital, as it ensures financial stability during challenging times.
According to the Social Security Administration, more than 25% of 20-year-olds will experience a disability before retirement. This statistic underscores the importance of having disability insurance in place.
Health Insurance
Adding your baby to your health insurance plan is a crucial step. Be sure to understand your policy’s maternity and newborn coverage, as well as any necessary changes that need to be made. Review your current health insurance plan and evaluate if any adjustments are required to accommodate your growing family.
Homeowners’ or Renter’s Insurance
As you set up your baby’s nursery and purchase essential items, assess your homeowners or renters insurance policy to ensure adequate coverage for your baby’s belongings. Additionally, consider making safety improvements to your home, such as installing smoke detectors, securing furniture, and baby-proofing electrical outlets.
Auto Insurance
Update your auto insurance policy to reflect changes, such as purchasing a family-friendly vehicle. Familiarize yourself with car seat safety and installation to protect your baby during car rides.
We’re Here For You
Proactively planning insurance is essential for your growing family’s financial security. By following these tips, you can have peace of mind knowing that your loved ones are protected. At Page Insurance, we understand the importance of safeguarding your family’s future. Contact our team to help you navigate the insurance needs for your new baby and ensure that you’re prepared for this exciting new chapter in your life.
Insurance Checklist for Expecting Parents:
- Review and update your life insurance policy.
- Evaluate your disability insurance needs and options.
- Add your baby to your health insurance plan.
- Assess your homeowners or renters insurance policy for adequate coverage of your baby’s belongings.
- Make safety improvements to your home.
- Update your auto insurance policy and familiarize yourself with car seat safety.
This checklist can help you stay organized and ensure you have considered all essential aspects of insurance planning for your growing family.
John Page, President of Page Insurance, has been a driving force in the insurance industry since 1999. As a licensed agent in Property & Casualty, Life, and Health insurance, John has won numerous awards for agency management and works tirelessly to improve agency operations with the client in mind. He is passionate about building and investing in the Page team of experts, ensuring they deliver top-notch service to clients. In his free time, John enjoys snowmobiling, gaming, reading, traveling with his wife and three kids, and cheering on the local Idaho Falls hockey team.
by John Page | Feb 10, 2022 | Insurance Tips & Tricks
Divorce is a highly stressful and emotional event, and dealing with insurance during this time can be an added challenge. This blog post aims to provide essential tips and expert advice on handling insurance concerns during a divorce. We’ll cover the necessary steps to take and help you make informed decisions regarding your insurance needs, ensuring a smoother transition to your new life.
Handling Insurance During Separation:
When you and your partner decide to separate but have not yet filed for divorce, it’s essential to understand that making changes to joint insurance policies can be limited. As long as both of you are listed as “named insureds” on a policy, we cannot delete one from the insurance plan or make changes without consent from your ex-partner. However, there are specific steps you can take during this phase of transition:
- Update your existing auto insurance policy to show the new garaging address of each vehicle and the further commuting distance for work.
- The spouse moving out should acquire renter’s or homeowner’s insurance for their new place, as the existing policy will only extend limited coverage.
Adjusting Auto Insurance:
Once your divorce is finalized, it’s essential to update your auto insurance:
- Obtain separate car insurance policies. Remember that while you may lose specific discounts, you can keep your credits and discounts for being a “Safe Driver” or a “Continuous Customer,” even if you apply for a new policy.
- Address insurance for young drivers in the family. Ensure that your children are covered on at least one if not both, parents’ auto policies, especially if they have access to both parents’ cars.
Homeowners or Renters Insurance:
As you adjust to your new living situation, it’s crucial to make the necessary changes to your homeowners or renters insurance policies:
- For the spouse staying in the home, adjust the policy to their name only and update it to fit their new needs.
- The spouse moving out should acquire new insurance coverage for their new place, whether renter’s or homeowner’s insurance.
Life Insurance Considerations:
Life insurance is a vital aspect to consider during a divorce:
- Weigh the pros and cons of keeping your ex-spouse as the beneficiary on your life insurance policy, especially if they rely on your financial support for living expenses and child support.
- Consider alternative options for naming beneficiaries, such as setting up a trust for your children.
- Be aware of legal clauses that can help protect your financial interests during a divorce, such as ensuring that the life insurance beneficiary cannot be changed or allowed to lapse without your consent.
Health Insurance Concerns:
Health insurance is another critical factor during a divorce:
- You may need to find a new plan if you’ve been covered under your spouse’s group health insurance policy. Check to see whether you qualify for COBRA, which allows divorcing spouses to continue their current health insurance plan for up to 36 months following the divorce at their own expense.
- If you have children, compare your and your spouse’s plans, and enroll your children in the most suitable option. Remember that coverage may change or even be reduced to emergency care if the policyholder and children live in different states due to rules about preferred provider networks.
Navigating insurance during a divorce can be a complex process, but with the proper guidance and support, you can ensure that your protection plan is updated to fit your new circumstances. Review your auto, homeowners or renters, life, and health insurance policies to make the best decisions for you and your family. Reach out to Page Insurance for personalized assistance in restructuring your insurance plans during this challenging time.
Click here to get a quote.
John Page, President of Page Insurance, has been a driving force in the insurance industry since 1999. As a licensed agent in Property & Casualty, Life, and Health insurance, John has won numerous awards for agency management and works tirelessly to improve agency operations with the client in mind. He is passionate about building and investing in the Page team of experts, ensuring they deliver top-notch service to clients. In his free time, John enjoys snowmobiling, gaming, reading, traveling with his wife and three kids, and cheering on the local Idaho Falls hockey team.
by John Page | Feb 10, 2022 | Insurance Tips & Tricks
Congratulations on your engagement! This exciting time in your life brings many joys, and while insurance may not be the most thrilling aspect, it’s essential to ensure you and your future spouse are adequately covered. By understanding the various types of insurance and how they affect married couples, you’ll be well-prepared to protect yourselves and enjoy a more worry-free life together.
Insurance for Wedding Events:
As you plan your wedding and any related events, inquire about the insurance coverage at each venue. Ensure they carry liability insurance to protect against injuries or accidents involving your guests.
Auto Insurance:
Couples tend to be less risky to insure, leading to a married discount on your auto insurance policies. You’ll also benefit from a multi-car discount if you have multiple vehicles. Combining policies can lead to further savings and ensure adequate coverage.
Renters’ or Homeowners’ Insurance:
Although being married might not provide a direct discount on renters’ or homeowners’ insurance, bundling policies can offer additional savings. Adequate coverage for your belongings is essential, especially regarding valuable items like jewelry, art, or electronics. Personal liability coverage can also protect you against lawsuits related to injuries sustained on your property or accidents you cause while traveling.
Health & Disability Insurance:
If you’re under 26, you can remain on your parent’s health insurance plan even if you’re married. For those over 26 or without parental coverage, securing your own health insurance is crucial. Disability insurance can provide financial support if an injury or illness prevents you from working.
Life Insurance:
Regardless of whether you have children, life insurance is a valuable asset for married couples. Term life insurance is an affordable and straightforward option, paying out a predetermined amount to your beneficiaries if you pass away during the policy term. While whole life insurance offers an investment component, keeping your insurance and investments separate is generally more advisable.
Other Types of Insurance:
Consider additional insurance policies depending on your needs, such as business insurance for side hustles or pet insurance for your furry family members.
Tips to Keep Insurance Affordable: To manage your insurance needs affordably, consider the following tips:
- Use an independent agency, like Page, to help you shop, buy, and manage your policies.
- Bundle policies for additional discounts.
- Prioritize coverage for significant events or losses first, and smaller items as your budget allows.
- Review your insurance policies at least once a year.
- Take the time to understand your options and ensure you’re working with a reputable agency that offers unbiased advice.
Protecting yourselves and your future with the right insurance policies is essential as you embark on your journey together. By understanding the various types of coverage available and how they can benefit you as a married couple, you’ll be well-prepared to make informed decisions. Remember to partner with a trustworthy agency like Page to help you navigate your insurance options and find the best solutions for your unique needs.
Click here to discover the best deal on any type of insurance you’re interested in exploring.
John Page, President of Page Insurance, has been a driving force in the insurance industry since 1999. As a licensed agent in Property & Casualty, Life, and Health insurance, John has won numerous awards for agency management and works tirelessly to improve agency operations with the client in mind. He is passionate about building and investing in the Page team of experts, ensuring they deliver top-notch service to clients. In his free time, John enjoys snowmobiling, gaming, reading, traveling with his wife and three kids, and cheering on the local Idaho Falls hockey team.
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