Although the calendar says that summer is technically not even half over, the outdoor fun and vacations are sinuous in many parts of the country. Schools are back in session shortly and the football season will kick off before we know it!
This is the time of year, I often get questions about the necessary cover to protect students who are absent from school. Such requests are common for parents who send their children to college for the first time.
The courts have long determined that dependent child away to school is still legally a resident of the home of their parents. In fact, with the policy of contracts used by many insurance companies, there are situations where no additional coverage must be purchased.
Of the policies most commonly used owners, a student under 24 is covered by his or politics as long as they are enrolled full-time at the school and have been a resident of house before moving to attend school from its owners parents.
then, that the covers have your students while they are away at college? First, they are protected by the section of the personal responsibility of your homeowners policy for bodily injury or damage they cause. However, it is important to note that the intentional acts are not covered. Your son or daughter will face new responsibilities and exposure, so it is a good time to consider purchasing a personal umbrella policy to provide an additional layer of liability protection for your family.
Regarding the equipment that will be moved into the dorm room, coverage for personal property is available up to an amount that is equal to 10% of the limit of personal property coverage the parent policy. Personal property includes things like clothes, small furniture and appliances, and electronics. Of course, the policy deductible is applicable in case of loss of property, such as theft of personal property.
Electronics, such as a laptop or tablet, can be one of the biggest concerns. Some insurance companies allow these items to be shown separately on the policy owners so that a deductible would not apply to a loss. However, I often discourages this type of coverage on most of those items that I think it is prudent for the insured to make himself small losses. Small losses may be regarded unfavorably by insurance companies, may increase the premium at renewal time, or could even cause the coverage being interrupted when combined with other losses.
In some cases, the student (or parents) can sign a lease for an apartment off campus. While it is possible that the cover may still be available through the policy of the parents, which is often a good opportunity to equip the student with the insurance policy of their own tenant to ensure that n 'there is no coverage issue. See our blog for more reasons than you need renters insurance!
Last but not least, we sometimes get requests to add a building owner to a tenant policy. Essentially, this means that the landlord requires the tenant to carry insurance coverage - particularly liability coverage. In such cases, the owner may be added to the policy as additional interest. This allows the building owner / owner to be on the policy statements and to notify in case renters insurance canceled. The approval of additional interest does not provide coverage to the owner.
I hope this summary is useful to families who will visit the campus this fall. To learn more about protecting your child to college, check out our Dorm and Don'ts for your student, for students, some exclusions may apply, and back to school list should include a Check Up Blog insurance.
policy coverages described above are in the most general terms and are subject to the exclusions and real political conditions. For specific coverage details and exclusions of the policy, refer to the policy itself or contact your agent.
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