As summer winds down and the excitement of a new school year approaches, many families find themselves in the midst of preparing for college. 

For parents, this transition is not just about packing up your child’s belongings; it’s also about ensuring that your young adult is well-protected in this next stage of life. 

Turning 18 comes with significant changes, and here are five essential steps to take to ensure your child’s security and well-being.

1. Safeguard Their Belongings With Renter’s Insurance

Whether your child is moving into a campus dormitory or an off-campus apartment, protecting their belongings is essential. 

While your homeowner’s insurance might provide some coverage for items in a dorm, it often doesn't extend to off-campus residences. A separate renters insurance policy is generally recommended for off-campus housing. 

A renter’s insurance policy not only covers personal belongings like laptops and smartphones but also offers liability protection in case of accidents.

2. Update Their Auto Insurance Policy

If your child is bringing a car to college, ensuring they have the right auto insurance coverage is a must. Whether they’ll be commuting or just occasionally driving, the distance from home can affect their premiums. 

Some insurers offer discounts for students with good grades, so encourage your child to keep their academic performance up. Review their policy to ensure it covers their new location and any changes in usage patterns.

3. Add Extra Protection With Personal Articles Insurance

High-value items such as jewelry, electronics, or musical instruments may exceed the coverage limits of your homeowner’s policy. To ensure these items are fully protected against theft, damage, or loss, consider adding a rider or endorsement to your existing policy. 

4. Review Their Health Insurance Coverage, Especially if Going to College Out-of-State

At 18, your child is still covered under your health insurance plan, up until the age of 26. However, if they're heading off to college out-of-state, it’s crucial to review their coverage.

Different states and colleges might affect the network of providers, which could affect how easily your child can access care. 

Check with your insurance provider to confirm that their plan covers out-of-state medical services. Some universities offer health insurance plans for students, which can be a viable option if your current plan has limited coverage away from home.

5. Advance Directive and Healthcare Proxy: Preparing for the Unexpected

As your child becomes an adult, they should also prepare for unforeseen medical situations. An advance directive outlines their wishes regarding medical care if they are unable to communicate. 

This document can include preferences about life support, resuscitation, and other critical medical decisions. In addition, setting up a healthcare proxy or declaration allows a trusted person to make medical decisions on their behalf if they become incapacitated. This ensures that their healthcare decisions align with their wishes, even if they cannot voice them.

Closing Thoughts

Your child’s transition to adulthood is a special and exciting time for your family. This new stage of life, however, often comes with some additional responsibilities. Taking these simple, yet important, steps can help you and your family remain prepared and secure for the upcoming years.