Page 8 - AO Insurance FlipBook

Is your parent or adult child covered under your insurance policies?
More and more we hear elderly parents are moving in with their children or their
adult children are moving
back home. There is a
lot to consider when this happens, and two of your policies will be affected right away – homeowners and auto.
Homeowners
amounts.
Structural
Changes to
Your Home
With the
arrival or
your parents
or children,
you might need to turn a den into a bedroom, a closet into a bathroom, or make a bathroom safer for a senior. These room additions/alterations could increase the value of your home which will need additional coverage while also providing you with credits for upgrades to the plumbing, heating, or roof.
Auto Insurance
Will your parents or adult children have their own automobile policy and will they keep their own or will they be added to your policy? Premiums will be higher due to their ages. The next question is should they be driving? If not, then this will trigger another needed conversation.
When your elderly parents
or children move in, they most likely will bring with them jewelry, furniture, art, antiques, and electronics. All of these are in need of insurance. Depending on their value, you will need to take a look at your contents coverage and deductibles. Specialty items will probably need a valuable-articles rider or floater.
The best thing to do is take an inventory of these items and let us help you determine the right coverage