As the new school year begins, students across Tennessee are heading back to their classrooms, and the Tennessee Department of Commerce and Insurance (TDCI) is urging families to take a moment to review their insurance policies. This proactive step can help ensure a safe and seamless transition into the academic year.
The TDCI’s Division of Insurance has put together valuable guidance aimed at parents, students, and educators, highlighting important areas of coverage such as auto, health, homeowners, and life insurance. For families with teen drivers who reside at home but do not own a vehicle, it is possible for these young drivers to remain on their parents’ auto insurance policy. It is advisable for families to assess their deductibles, consider assigning their teens to older, less expensive vehicles, and inquire about potential discounts for good academic performance. It is important to note that sports cars and SUVs typically come with higher insurance premiums.
In the unfortunate event of an accident, there are several critical steps to follow. First, it is essential to call 911, obtain a police report, and document any damage to the vehicles involved. Following this, drivers should reach out to their insurance provider to initiate the claims process, and they have the option to select either a preferred or independent repair shop for vehicle repairs.
For college students, the good news is that they can remain on their parents’ health insurance plans until they reach the age of 26. Families should take the time to verify the availability of in-network healthcare providers near their student’s campus and make necessary updates to their auto insurance based on whether the student will be driving. Additionally, many homeowners insurance policies extend coverage to students’ belongings while they are living in dormitories or off-campus apartments, so it is wise to confirm these details with an insurance agent.
The TDCI also emphasizes the importance of reviewing life insurance policies on an annual basis. This review should include updating beneficiary information and ensuring that all contact details are current. Sharing the specifics of these policies with beneficiaries or trusted advisors can help avoid confusion in the future. Notably, TDCI’s Life Insurance Policy Locator Service successfully assisted in recovering over $87 million in benefits in 2024.
In cases of claim disputes or delays, consumers are encouraged to reach out to TDCI’s Consumer Insurance Services team. This team provides valuable assistance and mediation services between policyholders and insurance companies.
For further information, families can visit the TDCI website at www.tn.gov/commerce or contact them directly by calling 1-800-342-4029 or (615