1. Auto Insurance - Your household might get a discount when your child goes off to school and leaves his or her car behind.

2. Homeowners Insurance - Usually the belongings of your child are covered by your homeowners, but it is still a good idea to make sure.

3. Renters Insurance - Very important to discuss if your child is moving from a dorm to an apartment.

4. Life Insurance- If student loans are involved, life insurance can help in the case of an unexpected tragedy. Hopefully this never happens and if it doesn't then a student can opt to carry the life insurance to the next stage in life.

5. Personal Catastrophe Liability - For those unexpected accidents, the extra liability coverage can help protect you should a lawsuit ensue from a big mistake.