“I’m on my parents’ insurance!”

young adult ins - blog image

In working with young adults we hear this frequently, but do you really have coverage?

In order to have coverage under your parents’ policy most companies have restrictions, such as: the young adult needs to live at home full-time or have lived at home full-time prior to going to college.  Some companies have age restrictions as well.  Please check with your agent for specific policy language and guidelines, but in most instances if you have a separate address and are not a full-time college student there is no coverage for liability under your parents’ policy.  This means that if you are in an accident in which you are at fault, the company might repair your car, but any property damage or bodily injury you cause will be denied.  In this case, the injured party can come after you personally for any damages or injuries and garnish wages and future earning potential.

Please always check with your agent to protect your financial future.

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