Does my homeowners insurance cover the possessions of my child who is in college?
Most homeowners insurance policies will cover your child’s possessions under certain circumstances, but there are a few things that you need to check on your policy before you know whether or not this is true of your homeowners insurance. First off, check your policy to see what the coverage limit is on personal items that are not in your home, and secondly, check to see under what circumstances your child’s possessions will be covered.Home Insurance
You want to check on the policy’s limit because you’ll need to know whether or not all of your child’s property is covered. When you went to college, you probably only took a few hundred dollars worth of clothing and personal paraphernalia, but your child is likely to be taking an expensive laptop and maybe even a small home entertainment center. These things may be too expensive to be covered under your homeowners insurance policy unless they’re actually on your property, so you may end up needing to add a rider policy to your homeowners insurance to be sure that your student can replace his or her electronics in the event of a theft or fire.
Also, you need to be sure that your child will be living in the sort of situation that is covered by your homeowners insurance policy. For the most part, the possessions of college-age dependents will be covered as long as the student is living in a dorm or home that is campus housing. Once, though, your student moves into an apartment or rented home, which is likely to happen toward the end of his or her college career, you or your student will probably need to purchase a completely separate renter’s insurance policy to ensure that all of your student’s possessions are insured. Renters insurance is very inexpensive, and you may want to consider it even if your student is living on campus, as it may give you the extra coverage you need for the electronics and other expensive items your student owns.Home Insurance
Also, you’ll want to be sure that you know how much liability coverage your student has while away at college. For the most part, the liability insurance that comes with your homeowners insurance policy extends to all members of your household, but this may be further defined by what sorts of members. For instance, your health insurance will probably consider your student no longer dependent after a certain age � usually twenty-one or twenty-five � and your homeowners insurance may do the same. If your student doesn’t have enough liability coverage to protect him or her while at school, you might consider buying an umbrella insurance policy or a renters insurance policy that will give your student more coverage.
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