Does My Homeowners Insurance Cover My Child at College?

Insuring your home is an important step in protecting your family. As your children grow up and move off to college, they may no longer be covered by this layer of protection.  These kids are living outside your property, and it can influence the coverage of your homeowners insurance.

Is your child on campus?

It all comes down to your insurance policy and what it covers. Usually, your homeowners insurance policy covers kids at college, provided they stay on campus. When their items or belongings are affected by any damage your insurance covers, you can make a claim on your insurance. Your child would also have access to paid legal fees for a covered liability lawsuit.

Despite the fact that your homeowners insurance covers your kid at the college’s campus, it is wise to check with your insurance company exactly what property coverage your insurance provides for your child while they are on campus. For example, a worldwide coverage in your policy means coverage for your property irrespective of where they are located in the world. Anything outside a worldwide coverage would only cover property in a dorm room.

How about children off-campus?

Home insurance rarely covers children off-campus. You’d need to find a better-suited insurance package for children who stay in a fraternity house, sorority house, or other off-campus apartments. You can get a renter’s insurance policy for your child if they choose to live off-campus. It is best to pick an insurance policy that covers your child only, rather than one that covers your child and roommates.

How much coverage is usually offered for your child at college?

Whether your child is living on or off-campus, your home insurance policy can be purchased on terms that provide coverage for the valuables of your children. Usually, items and valuables such as computers, electronics, firearms, jewelry, silverware, cash, and other expensive items have limits of protection from insurance companies. If the limit of your insurance doesn’t sufficiently cover your child’s valuables, you can increase the limit to enjoy more coverage.  If increasing the coverage doesn’t do the trick, seek special insurance for your child’s valuables.

Usually, for a child who lives on campus, your homeowners insurance extends 10% of your policy to your child. This means if you purchased the insurance at $300,000, your child enjoys coverage of $30,000. If the 10% is insufficient to cover your child and their valuables, you can always increase the limit or seek a separate insurance plan.

What are the available insurance options ?

Although your homeowners insurance covers your child at college, it has a few lapses. You cannot make claims for any damage less than your deductible. Also, your insurance score can be negatively impacted when your child makes claims, which can lead to premium increases. What’s worth your concern is the fact that damages on your child’s property would most likely be less than your deductible. This means you’re as good as not having protection for your child’s property or valuables. A renter’s insurance has a much lower deductible and is way cheaper for your children. Nevertheless, if the deductible doesn’t cover probable damage, dorm insurance might be the route to take. This way your child can make claims for the smallest damages in college.

Yes, your homeowners insurance provides some coverage for your children in college. Nevertheless, there are better options to consider depending on the situation. Do you have more questions about the coverage offered by your homeowners insurance?  If so, then contact the experts at James Page Insurance.  We are ready to assist you with all your home coverage needs today.

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