FACT or MYTH: As long as my child is in college, the contents of his student housing is covered on my homeowner policy.

March 2017

MYTH! While this is generally the case, if your child is pursuing a graduate degree or extended studies and reaches the age of 24, his or her contents coverage is reduced to a $1,000 limit. At this point, your child would need to look into a tenant’s policy, more generally referred to as renters insurance.

Renters insurance often times offers coverage for:

  • Their personal property
  • Improvements to their unit for which they are personally responsible
  • Additional living expenses should their unit become temporarily uninhabitable because of a covered damage
  • Legal liability that your child has for bodily injury, property damage or personal injury to others. This applies while on or away from their premises.

If you are interested in renters insurance, contact the Family team at Peel & Holland today. A renters insurance policy typically costs less than $300 per year - a small price to pay considering all the coverage it provides!

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