Also remind your student about the importance of safe driving while away from home and especially about the hazards of texting and driving or drinking and driving. "Explain that a driving infraction or being in an accident can drive up their insurance costs," Worters adds.
[See: 10 Unexpected Costs of Driving.]
It's easy to lose sight of these considerations in the excitement of a new school year, but Elaine Baisden, a vice president of personal insurance for Travelers, says parents should keep them in mind. "It's a milestone for the kids," she says, "but the parents can use it as a milestone for themselves to give themselves an insurance checkup."