Does my homeowners insurance coverage cover my daughter while she’s in college, renting her own apartment?
UPDATED: May 14, 2012
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Asked May 14, 2012
Your homeowners insurance covers several different aspects, but it is limited to coverage for people and property that is permanently in residence or kept at the insured home. When your daughter takes her belonging off to college, she is going to need to provide insurance for her own possessions. The things she left behind at home will still be covered under the personal property portion of your home insurance, but the things she keeps with her will become her own responsibility.
The best solution for your daughter might be to pick up a renters insurance policy. This type of policy provides liability and personal property insurance, but it does not cover the structure of the dwelling. The idea is that the owner of the building is responsible for keeping it in good repair, but individual residents or tenants must insure their own property. For this, you could pick up a rider on your home policy, but it will still be a separate policy, only the billing will be unified.
As long as the registration for her car is still in your name, she can continue to drive under your car insurance while she is at college. Car and health insurance coverage each allow your children to remain on the policy until they are 26 years old or become self-sufficient. If your daughter's car is registered in her name, she is considered to be financial liable for it and must provide her own coverage. Familiarize yourself with car insurance for students and take the steps necessary to keep your children well-protected. Leaving home means giving up many of the securities of childhood, including the loss of sufficient insurance coverage.
Answered May 14, 2012 by Anonymous