Aug 28, 2007
BCAA urges parents to review car insurance for their children returning to university
Burnaby, British Columbia – With many students leaving the family nest and spreading their wings for university or college in the coming weeks, BCAA Insurance reminds parents to review their car insurance policies to ensure they have proper coverage.
If a student is taking a vehicle, owned by mom or dad, to university, check to make sure coverage is in place, says BCAA Insurance Product Manager, Brooke Hanson. Some policies restrict family members with less than ten years driving experience from operating the car, except in emergencies. Also, if the student is now the principal operator, a change may be required on renewal. If the student is the owner of the vehicle, the insurance company should be notified of the new residence location, even if the actual mailing address isn’t changing. Auto insurance rates are affected by where the car is garaged at night.
“With all the variables involved, the safest bet is to consult with your insurance advisor about which approach is best for you,” concluded Hanson. “Attending university or college today is an expensive proposition. A few minutes spent reviewing insurance issues may help save money later on.”