New Jersey Subscriber

A

The ISO homeowners forms include limitations for personal property away from the residence premises. First, for personal property “usually located” at an insured's residence other than the “residence premises,” there is the limitation of 10 percent of the coverage C amount, or $1,000, whichever is greater.

For many students, the school year's length means that their property is “usually located” at another residence. Although the dorm or apartment is not their permanent residence, it is, nonetheless, a “residence.” Webster's Collegiate Dictionary offers this definition of “residence”:  “…the act or fact of living or regularly staying at or in some place for the discharge of a duty or the enjoyment of a benefit.” Therefore, the student's property is covered, but the coverage C limitation applies.

There is another limitation of coverage under the peril of “theft.” The policy states that this peril does not include loss caused by theft unless the student who is an “insured” has been at the “residence away from home” at any time during the 45 days immediately before the loss. So, for example, if the student came home for the summer and left personal property in his dorm room, there could be a potential gap in coverage, unless he returned to the dorm room at some time within the 45 days preceding a theft loss.

The only requirement the policy makes regarding age of an insured is that, to be considered an “insured,” the person must be a relative residing in the named insured's household, or any other person under the age of 21 in the care of a resident relative or the named insured.