Does Your Homeowner Policy Provide Coverage for Your College Student?

How Empty Nesters Can Quality for Homeowners Liability Coverage

There exists a liability concern when it comes to kids going off to college. This concern involves gray areas as it relates to homeowners’ liability coverage. Therefore, if you have children in college, it’s vitally important to make sure they are provided liability coverage while in school.

Most homeowners insurance policies cover personal property for children when they go off to college and are still considered dependents of their parents. However, there are some areas of concern for homeowner policy coverage when it comes to liability. The policy you have may or may not specifically provide liability coverage for children away at college. This is a major problem if your child is no longer covered while away at school.

What You Need to Know About Liability Coverage For Your College-Age Child

Some insurance companies have an endorsement that can be added to the homeowners' policy for this coverage, others may not. If the endorsement is available, then this would be a perfect solution to the coverage gap. If the endorsement is not available, then the student should most likely purchase a renter’s insurance policy to protect themselves while away from home at college. The renter’s policy will provide coverage for their personal belongings and also provide personal liability coverage.

Why Personal Liability Coverage is Important

You might be asking yourself why it’s so important to find out about liability coverage and whether your child is still covered under yours at the present time. Well, consider this scenario…

Your child is away at college and living in an off-campus apartment. They have a friend over who injures themselves at your child’s residence. Now, your student is responsible for this accident and expected to pay medical costs and the like. We all know no college kid could foot that bill. This of course means you will have to pitch in and help out, and we all also know how expensive even minor medical care can cost. Therefore, it could ruin your financial future right as you enter retirement. The easiest way to protect against this is simply to ensure that your child has personal liability insurance coverage to protect themselves from this nightmare situation, or is adequately covered under your policy.

Ask About Age Limitations

Another factor to consider about this matter is the fact that some homeowners' policies have an age limit established for extending coverage to college students. The homeowners’ policy will usually state that a student must be a full-time student (as defined by the school they attend) who is a resident of the household before moving out to attend school and who remains under the age of 24. This might mean that your current coverage will work fine until your now-adult child is over the age of 24. At any rate, you need to know about any age limitations, so you can ensure you have adequate coverage should your child age out of your current policy.

Bottom Line: Now’s the Time to Inquire About Your Liability Coverage 

If you are wondering if you have a coverage gap in your homeowners' policy for your child away at college, reach out to one of our insurance specialists. The time to inquire about this coverage is not when you are in desperate need of the coverage and about to file a claim. By then, it’s too late to change anything on your policy. Instead, think ahead and inquire about the liability coverage you have to determine if you need to add more. You don’t want your financial future or that of your child to be derailed by a mere accident when liability coverage could have easily provided the necessary funds for the situation.


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