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. 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?
Have a close look at your home insurance policy. Children who are studying full time away from home at college or university are covered by the majority of parents' home insurance policies. The coverage provided is typically limited, but if necessary, most policies allow you to add extra coverage. 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.
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.
Other kinds of restrictions could be applicable if your child depends on you financially. If your son or daughter has been working, and is self-supporting, coverage may not apply. 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.
This is one of the biggest moments in the life of your child. Make sure they're properly protected.
Many parents begin experiencing empty nest symptoms. 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?
Have a close look at your home insurance policy. Children who are studying full time away from home at college or university are covered by the majority of parents' home insurance policies. The coverage provided is typically limited, but if necessary, most policies allow you to add extra coverage. 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.
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.
Other kinds of restrictions could be applicable if your child depends on you financially. If your son or daughter has been working, and is self-supporting, coverage may not apply. 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.
This is one of the biggest moments in the life of your child. Make sure they're properly protected.
About the Author:
For further details, please visit square one insurance, or if you're a first time home buyer visit www.squareoneinsurance.ca.
This article collected, selected and written by: Author Van Hoc
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