egm back-to-school savings
August 2013

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Here's a Quick Lesson On How You Can Increase Savings While Improving Grades

For high-school, college and university students, getting back to school usually means big expenses. That's why it's important to learn how you can reduce costs, while protecting the students covered by your household policies.  
Away-at-School Auto Insurance Discount
Students under the age of 25, living away from home and without regular access to the family auto, can apply for a:
- 50% discount if school is less than 160 km away from home
- 75% discount if school is more than 160 km away from home

Good-Student Auto Insurance Discount
Full-time students of high school, college or university, and under the age of 25 with an 80% average or above, can apply for a 10% discount on auto insurance.

Up to the age of 25, this discount can be extended to graduates of 3 or 4-year post-secondary programs who maintained an 80% average throughout.

Ask Your EGM Broker About Student Discounts
Bikes and musical instruments aren't always covered as standard, so be sure to check your policy to ensure they are protected. 
Cover Your Stuff
Students living away at college or university, can cover their contents in either of two ways:
1. Add coverage to your parents' content policy, but make sure you ask about restrictions.
2. Ask if it's cheaper to take out a separate policy to cover your personal contents. 
If you share accommodations with other students, you should each have coverage against theft, fire, vandalism, storm, flood and burst pipes. 
Invest in Your Child's Futurepaul kramer

According to Paul Kramer, CFP, investing in your child's education, is one of the most important investments you can make.
- Start saving early so the investment has longer to grow.
- Boost your RESP contributions with the Canada Education Savings Grant.
- Shelter your RESP investment income as long as it remains in the plan.
- Draw the investment growth at the student's low-to-nil tax rate.
 
EGM iCompanion Mobile App

Our new android and iPhone Mobile App means you have direct access to your EGM Insurance broker with the touch of a screen, including:

  1. Contact My Insurance Broker
  2. Report an Accident
  3. Report a Property Claim
  4. Simple Home Inventory
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