Every year in the fall, there are university and college students that take their things and move to a campus to study away from home temporarily. Parents should discuss this with their children prior to them leaving, so they can be sure that tablets, laptops, and other important items that belong to their children will be protected while they are away.
Getting that empty nest feeling? While having children away can be freeing in some ways, many parents are anxious for their children's safety. Kids take all kinds of possessions away to school as their dorm room is their new temporary home. Maybe a TV, certainly a computer and a cell phone, all their clothes, shoes, books, bedding. What happens in the case where these things are lost, or if your child is the victim of theft?
The answer is in your home insurance policy. Full time college or university students are generally covered by their parents' home insurance policy while they are away at school on a temporary basis. The coverage provided is typically limited, but if necessary, most policies allow you to add extra coverage. High priced electronics, jewelry, and other expensive items may not be fully covered due to limits on most standard policies. To increase coverage on these kinds of items, take a look at an endorsement or personal property floater.
Some questions to consider when trying to determine whether or not your child is a family member under your home insurance policy are: Does your child receive any kind of financial support from you?, Do you claim your child on your tax return?, Do you provide any health insurance for your child?, When the college has breaks does your child return to your home during that time?, Are you paying for their college bills?, etc.
There may be some other restrictions, such as the child is still financially dependent on you. When your child is supporting themselves with a job, coverage from you may no longer be applicable. You will likely not be able to fully cover your child if they are living in an apartment with kitchen, bedroom, and living room possessions. It may be time for them to purchase their own renter's insurance policy.
People who are related to the named insured and are residents of your household are covered by home insurance policies, and your child is still mostly protected by your policy while away at school. Keep in mind that insurance policies can vary in a lot of ways, so covered items, limits of that coverage, who is eligible, and the duration of the coverage should be reviewed by the homeowner.
This is one of the biggest moments in the life of your child. Be assured that they are safe, and get them protection.
Getting that empty nest feeling? While having children away can be freeing in some ways, many parents are anxious for their children's safety. Kids take all kinds of possessions away to school as their dorm room is their new temporary home. Maybe a TV, certainly a computer and a cell phone, all their clothes, shoes, books, bedding. What happens in the case where these things are lost, or if your child is the victim of theft?
The answer is in your home insurance policy. Full time college or university students are generally covered by their parents' home insurance policy while they are away at school on a temporary basis. The coverage provided is typically limited, but if necessary, most policies allow you to add extra coverage. High priced electronics, jewelry, and other expensive items may not be fully covered due to limits on most standard policies. To increase coverage on these kinds of items, take a look at an endorsement or personal property floater.
Some questions to consider when trying to determine whether or not your child is a family member under your home insurance policy are: Does your child receive any kind of financial support from you?, Do you claim your child on your tax return?, Do you provide any health insurance for your child?, When the college has breaks does your child return to your home during that time?, Are you paying for their college bills?, etc.
There may be some other restrictions, such as the child is still financially dependent on you. When your child is supporting themselves with a job, coverage from you may no longer be applicable. You will likely not be able to fully cover your child if they are living in an apartment with kitchen, bedroom, and living room possessions. It may be time for them to purchase their own renter's insurance policy.
People who are related to the named insured and are residents of your household are covered by home insurance policies, and your child is still mostly protected by your policy while away at school. Keep in mind that insurance policies can vary in a lot of ways, so covered items, limits of that coverage, who is eligible, and the duration of the coverage should be reviewed by the homeowner.
This is one of the biggest moments in the life of your child. Be assured that they are safe, and get them protection.
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