To help grandparents raising grandchildren better understand their insurance needs, the National Association of Insurance Commissioners offers tips and considerations regarding auto, home, health and life insurance.
Home Insurance Considerations for Raising Grandchildren
- When caring for a grandchild and his/her visiting friends, consider increasing your liability coverage through an umbrella policy in the event that someone is injured on your property. Remember that backyard items, such as a trampoline or pool, may require an increase in liability coverage.
- Keep in mind that if your adult grandchild rents from you, he/she might not be covered under your standard homeowners policy. Contact our insurance agency to find out what is covered and if a renter’s insurance policy might be needed.