Insuring a grown child under your roof


Question from Shannon M. from Noblesville:

My daughter just graduated college and is moving back home thanks to the down economy and her lack of job prospects. What kind of insurance concerns should I have with this situation? Are you hiring?


Response from Jamie Ianigro:

The down economy has hit everyone, but it’s really punished the folks graduating from college the last couple of years. You trigger some insurance issues anytime someone moves into your home. You could also be heading toward some health insurance issues depending on the age of your daughter. Let’s start with the property and liability issues though.

Personal liability is the big issue that arises with grown kids. Everyone has a legal responsibility to handle the damage they cause to other people and their property. It can be anything from injuring someone accidentally in a recreational sport to misjudging the wind and falling a tree into a neighbor’s house. The liability falls right back on your homeowner’s policy if you or your child does something like that. The problem that can arise is where your grown kid actually lives. Maybe all of their stuff is under your roof, but are they sleeping there every night?

You might consider getting a renter’s policy in her name. It has the benefit of property coverage, but the main benefit is that there will be no fight over liability coverage if a conflict arises. This is an important issue and verifying with your independent agent that you and your grown kids are protected is a quick and easy thing to do.

Health insurance is the other major issue that affects grown children that are not eligible for their own coverage. The Affordable Care Act extended the age limit that children can stay on a parent’s health plan to age 26.

Many options at many price points still are available once someone passes the age restriction. Independent Insurance Agents are usually able to help you secure an individual health policy and help weigh your options. Going without coverage is an absolute last resort option. It is extremely risky and will make it very difficult to get quality coverage in the future.

Lastly, we’re always looking for good people to join our team! We list current job openings on our website.

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