Boomerang Kids and your Insurance

Written By Charlotte Insurance on February 26, 2016. It has 0 comments.

Once your child left home – for college or just to be out on their own – you thought that was it; one less person in your house. Think again.

After graduating college or living on their own for a while, your child may be one of the four million adults between the ages of 25 and 34 asking to move back in with their parents. They need to save money while they get back on their feet or find that first job, and as their parent, you want to help.

Here are some things you need to consider before move in day.


Does your child have health insurance coverage? If they’re 26 or younger, you can add them back to your policy during open enrollment. For boomerang kids a little older, everyone needs to think about what will happen if they get sick or injured. Coverage through an employer is ideal, but if they don’t have full-time employment, purchasing their own may be the wisest financial decision.

Ask yourself who’s going to pay for the MRI if they get hurt or the tests and medication if they become sick. As their parent, you’ll do your best to help them pay their medical bills, but paying the premiums for a health insurance policy may make more financial sense – at least until they can cover those costs on their own.


Ideally, your adult kids will have their own car and deal with the payments, gas, and auto insurance on their own. You may want to set that as an expectation before they move in. But what if your child doesn’t own a car?

If you anticipate that your child will want or need to drive any of your vehicles, call your auto insurance provider sooner rather than later. Adding your child to your policy may cause a bump in the premium, but compare that to the costs you’ll face if they get into an accident while driving your car.


The good news is that when your child moves back home, their stuff will be covered under your homeowner’s insurance policy, but that’s not the end of the story. You’ll still want to take a look at your policy limits. If your child has any high-value jewelry, electronics, or other valuables, your policy may not cover their full replacement value. You may need to add coverage for those specific items so that if they’re damaged or stolen, they can be replaced.

Having your kids come back home again might not be what you imagined when you sent them out into the world, but you never stop being their parent, either. There’s nothing wrong with taking care of them a little longer, just make sure you take care of yourself and your insurance coverage, too.

If you’ve got your own boomerang kids and have questions about how your insurance policies may need to change, contact us here at Charlotte Insurance. We’re here to help.

Thanks to Flickr user Nicolas Huk for the image!

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