You might be aware that coverage for your contents under your homeowner’s policy are covered anywhere in the world. If that is the case, your kid’s stuff at school should be ok right?

In general, yes. But there are some VERY important things to consider. There are special limits on certain kinds of property; theft of jewelry, money, passports etc. A claim for you college kid’s stuff would go on your homeowner’s policy claim history and be subject to your deductible. Most importantly, there is a certain age when a student’s belongings are no longer covered.

When a student turns 24 they are no longer an insured of the parent’s homeowner’s policy. That means they do not have coverage for their stuff and they do not have coverage for personal liability. It is common for college students to switch majors, go to graduate or medical school. Though their main residence is still their parent’s house, they have no coverage if they are 24 years old.

How do you solve that problem? Have the student get a renter’s policy! They are usually $10-$20 a month and cover their belongings but more importantly give them personal liability coverage. If they are playing intramural softball and a ball hits their friend Billy, Billy can sue. With a renter’s policy the student has coverage for that and many other accidents under their personal liability.

For more information, click here or give us a call here at Cornerstone Insurance Agency to discuss!

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