Hey Students, Are You Insured? | Lareau - Insurance Brokers
Charles-Antoine Carra, CPA, CMA

Hey Students, Are You Insured?

Granted, we know that students have other concerns than to worry about insurance. After high school, students often leave the family nest to study in the “big city”. They think about their TV, their roommates, their studies, their weekend parties… basically everything, but insurance. And what about their parents? They have better things to think about too: costs, fears, weekend parties, sometimes said with a faint smile on their lips…

So, who has thought about insurance? The answer may surprise you: the insurance company. Students are found in the definition of an insured in a home insurance contract, and are covered free of charge through their parents’ insurance. But wait… there are three conditions for eligibility. The precise definition is:
“Any student dependent on the designated insured or his or her spouse, even if the student is living temporarily outside the primary home.”

Basically, the first condition is obvious. The student must be dependent on the designated insured or his or her spouse. Again, we have to know what a dependent is. The Government of Quebec defines a dependent child as being neither married or a de facto spouse, and under the age of 25 (21 for a few departments). Eternal students or young couples (married or common law) are therefore not eligible! In fact, by living three years with a partner, or one year with a birth of a child is considered being in a common-law relationship.

The second condition is the pickiest of the three, namely the term “temporarily”. This means that a person who is a dependent student, but has no intention of returning to live with his or her parents is not covered. This also means that a student living in an apartment near his parents could not be considered “temporarily” away from home, since it appears that he has probably permanently left his family home.

The last condition refers to the definition of a student: Anyone enrolled in an educational institution pursuing full-time studies. Make sure you don’t miss the specification of “full time”.

This being said, feel free to contact your Lareau Insurance broker. He can clarify any confusion and answer any of your questions. And if the student no longer qualifies to be covered, free of charge, under his parents’ insurance, it is easy and inexpensive to get him his own personal insurance. Best of luck at school!

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Charles-Antoine Carra, CPA, CMA Personal-Lines Director See the profile

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