Near the end of August, most college and university bound students will be packing up personal belongings and getting ready for the move away from home to enjoy campus life. 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. There are a lot of anxieties that parents have when children go to school in another town. 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 will happen if their stuff is lost or stolen?
The answer is in your home insurance policy. Most home insurance policies will extend coverage to your child who is temporarily away from home, and is attending a university or college as a full time student. Protection in this case does have it's limits, but parents can opt to increase the coverage provided to their children at school. The majority of standard policies will have limits for property that is extra expensive such as jewelry, computers, or other electronics. To increase coverage on these kinds of items, take a look at an endorsement or personal property floater.
Certain considerations should be made regarding your child's family member status related to your home policy would be: Do you support your child financially in any way?, Paying their tuition?, Is your child claimed on your tax returns?, Does your child return while school is out of session?, Are you providing their heath insurance?
If your child is dependent on you financially, other restrictions could apply. 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. 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. Homeowners should have a look at their policy to determine who is covered, what is included, the duration of that coverage, etc, because not all home insurance policies are the same, and they can actually vary drastically.
Your child has many big moments in their lives, and this move is one of the biggest. Provide the necessary coverage to keep them protected.
Many parents begin experiencing empty nest symptoms. There are a lot of anxieties that parents have when children go to school in another town. 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 will happen if their stuff is lost or stolen?
The answer is in your home insurance policy. Most home insurance policies will extend coverage to your child who is temporarily away from home, and is attending a university or college as a full time student. Protection in this case does have it's limits, but parents can opt to increase the coverage provided to their children at school. The majority of standard policies will have limits for property that is extra expensive such as jewelry, computers, or other electronics. To increase coverage on these kinds of items, take a look at an endorsement or personal property floater.
Certain considerations should be made regarding your child's family member status related to your home policy would be: Do you support your child financially in any way?, Paying their tuition?, Is your child claimed on your tax returns?, Does your child return while school is out of session?, Are you providing their heath insurance?
If your child is dependent on you financially, other restrictions could apply. 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. 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. Homeowners should have a look at their policy to determine who is covered, what is included, the duration of that coverage, etc, because not all home insurance policies are the same, and they can actually vary drastically.
Your child has many big moments in their lives, and this move is one of the biggest. Provide the necessary coverage to keep them protected.
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