Preheader

 

Get A Quote Client Portal Payments Contact Home Page
 


Auto Home Business Health Life
Home > Blog > Are Your Grown Kids Property Covered?
  • Main Menu
    • Home Page
    • Refer a Friend
    • Insurance Glossary
    • Blog
    • Employee Directory
    • Contact Us
    • About Us
    • Privacy Policy
    • Location(s)
  • Automobile
    • Automobile Insurance Home
  • Business & Commercial
    • Business & Commercial Insurance Home
  • Commercial Property
    • Commercial Property Insurance
  • Farm
    • Farm Insurance Home
  • Health
    • Health Insurance - Northwest Ohio
  • Homeowners
    • Homeowners Insurance Home
  • Life
    • Life Insurance Home
  • Motorcycle
    • Motorcycle Insurance Home
  • Recreational Vehicle
    • Recreational Vehicle Insurance Home
  • Renters
    • Renters Insurance Home
  • Umbrella
    • Umbrella Insurance Home
  • Watercraft & Boat
    • Watercraft & Boat Insurance Home
MONDAY, JUNE 19, 2017

Are Your Grown Kids Property Covered?

Are Your Grown Kids Property Covered?

Blood may be thicker than water, but it is thinner than insurance contracts. An adult son or daughter may think that, when a loss happens, coverage is available from mom or dad’s homeowners or auto policy. It usually isn’t and finding this out after a loss makes matters much worse. Policies are typically clear. A relative is covered, but only if the relative is a full-time resident of the named insured’s household. Even if a child lives next door, a parents’ policy is not going to spread its coverage to take care of an adult child’s belongings.

Insurance contracts are meant to handle sources of loss that can be easily identified. Person A’s cars or home is protected by Person A’s auto or homeowner policy. Imagine if that weren’t the case.

Example: The Rabbitfield’s home and cars have been insured by Plausible Fire & Casualty for 20 years. In the last five years, the Rabbitfield’s children have grown and started their own households. Per the Plausible home and auto policies, the insurance premiums and two policies that covered the original family’s two cars and one home, now cover the original home and cars PLUS the following:

· Son Jimmy Rabbitfield’s apartment and car

· Daughter Chana Rabbitfield’s home and two cars

· Other son Perry’s home, seasonal home and two cars

· Other daughter Bonnie’s apartment and car.

Besides covering all of the property, the Rabbitfield parents’ policies ALSO cover everyone’s personal legal liability.

While it might be a bargain for insurance consumers if a single auto or homeowner policy could be stretched this far, it’s not likely that the insurance industry could survive such flexibility.

Being Independently Insured

Understandably, insurance in not always a priority for adult children who are now on their own. In the beginning, there’s often a phase where the kids commute between “home base” and their new apartment or home and their property is at both locations. The new grown-ups typically have few possessions, especially possessions of high value, and this adds to the likelihood that insurance is overlooked or seen as unnecessary. However, even when possessions are few, EVERYONE has a legal responsibility to handle the damage they accidentally cause to other people and/or other people’s property. When a child reaches adulthood, they’ve also reached the point where they need to get their own insurance.

If an adult child asks you for insurance advice, give them the name of an insurance professional you trust to help them get the exact protection they need. Frost Insurance would be happy to help them out! Request a quote here!

©The Rough Notes Company, Inc.

 

Frost Insurance Agency

Holgate Office: 419-264-2051

Napoleon Office: 419-592-4476

Posted 4:00 PM

Tags: insuring grown kids, insuring children, adult children insurance
Share |


No Comments


Post a Comment
Required
Required (Not Displayed)
Required


All comments are moderated and stripped of HTML.

NOTICE: This blog and website are made available by the publisher for educational and informational purposes only. It is not be used as a substitute for competent insurance, legal, or tax advice from a licensed professional in your state. By using this blog site you understand that there is no broker client relationship between you and the blog and website publisher.
Blog Archive
  • 2017
  • 2016

  • life insurance(6)
  • umbrella insurance(5)
  • motorcycle insurance(5)
  • umbrella(4)
  • renters insurance(4)
  • permanent life insurance(4)
  • winter driving(4)
  • term life insurance(3)
  • auto insurance(3)
  • distracted driving(3)
  • affordable life insurance(2)
  • dorm room theft(2)
  • teen drivers(2)
  • whole life insurance(2)
  • driving agreement(1)
  • steps to avoid a deer collision(1)
  • preparing your house for winter vacation(1)
  • watercraft insurance(1)
  • insuring teen drivers(1)
  • napoleon(1)
  • 8 steps to prevent frozen pipes(1)
  • kickoff party(1)
  • don't text and drive(1)
  • universal life insurance(1)
  • farm umbrella(1)
  • insuring grown kids(1)
  • landlord insurance(1)
  • insuring children(1)
  • personal article floater(1)
  • state auto insurance companies(1)
  • car accident photos(1)
  • winter vacation house(1)
  • liability coverage(1)
  • ranch insurance(1)
  • insurance claim(1)
  • farmowners insurance(1)
  • tenant insurance(1)
  • cell phone use while driving(1)
  • teen driving(1)
  • prevent frozen pipes(1)
  • frost insurance agency(1)
  • contacting agent about loss(1)
  • texting while driving(1)
  • prepping for winter(1)
  • life insurance stats(1)
  • short term life insurance(1)
  • cold weather driving(1)
  • using cell phone while driving(1)
  • state auto kickoff(1)
  • notify agent about claim(1)

View Mobile Version
View Our Latest Insurance News
more...
  Customized bike?
Make sure you have the proper coverage.     
                

more...

Home
About Us
Get A Quote
Customer Service
Make A Payment
Contact Us
Auto Insurance
Home Insurance
Business Insurance
Farmowners Insurance
Life Insurance
Health Insurance
Napoleon Office
PO Box 350
Napoleon, OH 43545
419.592.4476
Holgate Office
PO Box 367
Holgate OH, 43527
419.264.2051

Email us at frost@frostins.com
Social
How Can We Help You?
or call us at
Napoleon Office: 419.592.4476
Holgate Office: 419.264.2051
Get A Quote My Policy Location Blog RSS Feed Blog RSS Feed