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.
Many parents begin experiencing empty nest symptoms. It's an exciting, yet anxious time when your kids leave home to attend university. Kids take all kinds of possessions away to school as their dorm room is their new temporary home. A lot goes with them, basic things like clothing and books, but there are more costly possessions like computers and cell phones. What happens in the case where these things are lost, or if your child is the victim of theft?
Check your 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. Protection in this case does have it's limits, but parents can opt to increase the coverage provided to their children at school. Standard insurance limits may not be enough to insure an expensive computer, electronic equipment or jewelry. Consider buying a personal property floater or an endorsement to increase the limits on these items.
Keep certain things in mind when considering your child's eligibility on your home insurance as your family member: Do you pay for their school tuition?, Their health insurance? Providing financially for them in any capacity?, Does your child come home at school breaks?, Is your child claimed each year on your tax return?
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. When your child is living in a full apartment with bedroom, kitchen and living room, your policy may not be able to provide enough coverage for them. They would likely require their own renter's insurance at that point.
Home insurance policies refer to "relatives" as people that are related to the named insured and are "residents of your household." With your child still insured, they take with them to college most of the coverage from your homeowners policy. However, since wording can be different between different policies and vary from one insurance company to another, what is covered, how much is covered, who is covered, how long coverage exists, and what endorsements are available may differ, it's always best to get specifics from your own home insurance provider.
This is one of the biggest moments in the life of your child. Be assured that they are safe, and get them protection.
Many parents begin experiencing empty nest symptoms. It's an exciting, yet anxious time when your kids leave home to attend university. Kids take all kinds of possessions away to school as their dorm room is their new temporary home. A lot goes with them, basic things like clothing and books, but there are more costly possessions like computers and cell phones. What happens in the case where these things are lost, or if your child is the victim of theft?
Check your 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. Protection in this case does have it's limits, but parents can opt to increase the coverage provided to their children at school. Standard insurance limits may not be enough to insure an expensive computer, electronic equipment or jewelry. Consider buying a personal property floater or an endorsement to increase the limits on these items.
Keep certain things in mind when considering your child's eligibility on your home insurance as your family member: Do you pay for their school tuition?, Their health insurance? Providing financially for them in any capacity?, Does your child come home at school breaks?, Is your child claimed each year on your tax return?
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. When your child is living in a full apartment with bedroom, kitchen and living room, your policy may not be able to provide enough coverage for them. They would likely require their own renter's insurance at that point.
Home insurance policies refer to "relatives" as people that are related to the named insured and are "residents of your household." With your child still insured, they take with them to college most of the coverage from your homeowners policy. However, since wording can be different between different policies and vary from one insurance company to another, what is covered, how much is covered, who is covered, how long coverage exists, and what endorsements are available may differ, it's always best to get specifics from your own home insurance provider.
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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