Dear Karin, At Deland, Gibson we are committed to ensuring the safety and security of you and your family. Whether traveling or in the comfort of your own home, we want to make certain you are prepared for whatever liability may arise. When children leave for college, this very exciting time can also create many valid insurance concerns. In an understandable effort to save money, many parents seek to remove the child from their insurance policies; however, this may result in several insurance exposures. Below we answer some frequently asked questions regarding insurance risks for college students. If there is a topic or issue that you would like covered in an upcoming e-newsletter please e-mail me at info@delandgibson.com. Sincerely, Charlie Gibson
While my child is at school, are they still protected under my homeowners' policy? Insurance policies will continue to protect any child while they are away as long as they are residents of the household. However, some restrictions may apply if the child is living away at college year-round. Additionally, personal property coverage limits may not be high enough as the homeowners policy typically covers 10% of the policy limit.
Should my child remain on my auto insurance policy while they are away from home? It is always a good idea to keep your child on your policy to protect them in their travels (As long as it is in the US, its territories and Canada: *Please Note* Children are not