You have raised your kids to be self-sufficient and responsible.  You’ve given them the tools they need to succeed and now the time has come for them to go out on their own.  Regardless of their age when they leave home, do your young adults know the importance of a tenant’s policy? Do you?

David Waldron of Braeside Insurance explains that, even though your child may have moved away from home, if they can still be considered a dependant, you can be held financially liable for their actions.  This includes children who are away at university in another province. Should your child be involved in injuring someone or in damaging property, your insurance policy can be targeted. 

Waldron’s advice to parents: if your child no longer lives at home, they need their own tenant policy.  A tenant policy carries with it a personal liability coverage that follows the policy holder where ever they go.  They are relatively inexpensive policies due to the typically low contents coverage.  For the few extra dollars per month, both you and your child are better protected against an inevitable loss.

A tenant policy is something Waldron believes should be mandatory for any living situation; be it apartment, condo or campus residence.  Should there be a fire or a flood, the contents are covered.  Should you fall on someone at a party and they decide to sue, the liability coverage is there to protect you.  Make sure your child starts out their career doing what they love and not with the knowledge that they will be forever paying off an accident because they were not properly insured.


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