Your college and university kids are back at school: Do they have adequate
insurance coverage?

VANCOUVER, Sept. 13 /CNW/ - You helped unpack their belongings, make their beds and fill their kitchen cupboards, but now that they're settled in and you're back at home, are you sure your college and university kids have the right insurance coverage in case something happens?

"When kids leave home for school there is a lot to think about and plan for, and too often insurance is forgotten," said Lindsay Olson, Vice-President, British Columbia, Saskatchewan and Manitoba, Insurance Bureau of Canada. "A quick phone call to your insurance representative can give you peace of mind in knowing your child and his or her belongings are covered."

In the back-to-school spirit, test your insurance knowledge with the questions below and make sure your college- or university-bound child is covered.

Q: Is my child and his or her belongings covered under my own homeowner's policy?

A: Often, homeowner's policies extend coverage to include children who are temporarily living away from home to attend college or university. If you or your child has signed a lease, your landlord will likely require you to secure a tenant's policy including liability, which can cost as little as $20 per month.

Q: Does my child even have anything worth insuring?

A: You may think that your old basement sofa that now resides in your child's student accommodation isn't worth much, but it may cost more than you think to replace it - along with your child's computer, cellphone, MP3 player, shoes, clothing, etc. - if something were to happen. More importantly, with many visitors at your child's home away from home, you should make sure your child has liability coverage in place.

Q: Do I need to notify my insurance representative that my child is no longer living at home?

A: It's always important to notify your insurance representative about a change in your living situation. He or she can review your family's insurance needs with you, and can offer advice about how to make the most of your insurance.

Since every insurance policy is unique, always check with your insurance representative to find out what your own policy covers and doesn't cover.

About Insurance Bureau of Canada

Insurance Bureau of Canada is the national industry association representing Canada's private home, car and business insurers. Its member companies represent 90% of the property and casualty (P&C) insurance market in Canada. The P&C insurance industry employs over 110,000 Canadians, pays more than $6 billion in taxes to the federal, provincial and municipal governments, and has a total premium base of $40 billion.

For further information: contact Pete Karageorgos at 416-362-2031 ext. 4329 or cell 416-524-7240