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Wednesday, September 4th, 2013

Do you have the right coverage for their first home away from home?

With many Ontario students moving away from home to university and college campuses across the province, now is the time for Ontario parents to review their property or home insurance coverages to determine how their child’s new residence fits into the policy.

A major rite of passage in a young person’s life is when they leave home, often for the first time, to pursue post-secondary education. With all of the emotion and responsibilities to deal with, one aspect that could easily be overlooked is the need for the student to be properly insured at their residence.

One of the biggest mistakes is that many students assume that their current coverage is just an automatic extension from the parent’s policy. However, as in most cases, the requirements and limits can differ greatly between insurance companies. Proper advice in this instance is essential and your broker is able to address your individual needs.

The first consideration is the amount of contents coverage that the student will have. Some companies put a limit on this, for example $5000, and some simply use the contents limit under the parent’s policy. Depending on the amount of personal property the student brings, there could be a large under insurance exposure.

Parents should address the issue of liability and how a claim situation would affect their policy.  Here are some questions for parents to review with their insurance broker to ensure their student has proper coverage:

  • Does the parent’s liability limit automatically extend to the student’s new residence?
  • Do they have to live in the actual post-secondary school dorm facilities/accommodations or is any apartment or home covered?
  • Does the insurer require the name of school or address of the student’s location?
  • Would the normal policy deductible still apply?
  • If the parent’s policy has already had claims against it, would a claim at the student’s location jeopardize the carrier’s willingness to continue coverage?  If so, perhaps a tenant’s policy for the student may be advisable.


Review your insurance coverage to ensure that your young one is properly covered!  If you need any help, please give us a call and we can look things over and make sure your child is covered together.


Article written by My Insurance Shopper.ca

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