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HOME : Just the FAQs Ma'amStudents Living Away From HomeI am moving to another city to attend university. I will be renting a partially furnished apartment, and buying some furniture from the previous tenants. Will my belongings still be covered under my parents' homeowners policy? Before you hit the books, the very first thing you should study is your insurance policy! Generally speaking, most homeowners, tenants, and condo unit owners package policies will cover the personal property of all members of the family who live there, including while they are TEMPORARILY away (at work or on vacation, for example). Some policies specify a dollar limit for this away-from-home coverage. However, unless your policy states otherwise, it likely will NOT cover anything that is acquired at your rental apartment and which you will use only there. You say you will be buying some furniture from the previous tenants. If that furniture belongs in the apartment and will be sold to the next tenant or disposed of when you leave, it will not be insured under the temporarily-away-from-home coverage. That's because it isn't property that is temporarily away from your permanent residence - the furniture never was there and it's not intended that it ever will be. Some policies provide insurance specifically for the personal property of any student who is covered by the policy while he/she is temporarily living away from home to attend college or university. However, there may be a limit - perhaps as low as $2,500 - on the coverage for property used by students while away from home. That amount may not be enough to cover, say, your laptop computer or other valuable items that you might be taking with you. In that case, talk to your insurance provider before you leave, so you can arrange additional coverage for these items. A final note: coverage under your parents' homeowners policy is available only if you are dependent on them, as the policyholder, for support. In other words, if you were already living on your own before you went to college, you couldn't obtain coverage under your parents' policy just because you went to college. So before you head off for the hallowed halls of higher learning, put your insurance provider to the test by asking him or her the following questions: Am I covered under my parents' policy while I'm away at school? For what amount? Are there any restrictions? Should I have additional coverage for any valuable items? Do I need additional coverage for the furniture I purchase for the apartment? Once you have the answers to these questions, you can leave for university knowing that you made the grade, at least from an insurance standpoint! Note: Remember, policies vary, so when in doubt, Contact Us.
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