A special challenge facing these grandparents is that state and local governments, communities, and schools may not formally recognize their role in raising their grandchildren. While acquiring legal custody and guardianship of a grandchild may be financially and emotionally burdensome, grandparents should be aware that many benefits, including healthcare, emergency care, financial assistance, and social security benefits, require proof of a legal relationship before they will help. Proof typically includes court guardianship papers or adoption papers.
To help grandparents raising grandchildren better understand their insurance needs, our agency 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 if 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 homeowner's policy. Contact our insurance agency to find out what is covered and if a renter’s insurance policy might be needed.