How to keep college kids insured

Here are three of the week's top pieces of financial advice, gathered from around the web:

Keeping college kids insured

Before the kids head off to college, do your insurance homework to make sure they're fully covered, said Barbara Marquand at the Los Angeles Times. If they will be living in a dorm, their belongings are probably covered under your renters or homeowners insurance — but ask your provider if there are any limits. Students living off campus will need their own renters policies. Also check whether your health plan's provider network includes doctors and hospitals near the school. If not, most universities offer student health plans with comprehensive coverage. And even if your child isn't taking a car to school, keep him or her on your policy, for coverage at home on breaks. "Maintaining continuous auto liability insurance also keeps rates down over the long haul."

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Banks' anti-lawsuit armor

Big banks "are increasingly using the fine print of checking account agreements" to stop their customers from taking them to court, said Ann Carrns at The New York Times. More than 70 percent of the nation's major banks now use so-called mandatory binding arbitration clauses, up from nearly 60 percent four years ago, according to the Pew Charitable Trusts. Those clauses require customers to settle disagreements out of court, through a private arbitration process, and many of them also bar participation in class-action lawsuits. "As a result, consumers don't have much recourse if their disagreement involves a relatively small amount of money per customer, even if a large number of customers are affected." Between 2010 and 2014, only 505 consumers went to arbitration over a dispute of $2,500 or less.

Unmarried couples get a tax break

The IRS just gave well-off couples "another good reason not to get married," said Ben Steverman at Bloomberg. Unmarried couples who own property together can now effectively deduct twice as much of their mortgage and home interest on their tax returns, thanks to a recent IRS rule change. Before, the IRS held that its $1.1 million mortgage deduction limit applied on a per-residence basis, but the rule was tweaked after an unwed California couple sued the agency. Married couples are still limited to a $1.1 million deduction — another tax hit for high-earning spouses. Couples in which one partner earns a lot more than the other usually see their tax bill fall after getting married. But the opposite is true for two well-paid professionals, "as their combined incomes put them in the highest tax brackets."