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Do I Need Additional Insurance for My Children’s Belongings Once They Go to College/University?
- Do I need additional insurance for my children’s belongings once they go to college/university?
- If your child lives on campus and attends university full time, it is quite likely that they are protected under your own homeowner’s policy. A call or an email to your insurance company can clarify what is covered and the financial parameters of that coverage—both liability and possessions may be covered.
- However, bear in mind that any claim filed on your child’s behalf can affect your own rating and discount, so you may prefer purchasing tenant insurance in your child’s name.
- If your offspring rents an apartment off campus, insurance is even more important, because your liability coverage may not be applicable, even if possessions are covered. In addition, problems with rental properties aren’t always a landlord’s responsibility.
- If the tenant is found to be negligent, he or she is liable.
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