WARREN, NJ, May 5, 2015-For college students, moving from a school dormitory to an off-campus residence brings more freedom, responsibility-and exposure to risk. Parents, too, are often exposed to risk when their children sign the rental agreement. And it could cost them millions of dollars to defend or settle a lawsuit.

When students move off campus, they can be held responsible for property damage or injuries that occur at their new home. For example, if a guest is injured during a party-a twisted ankle on a wet kitchen floor or a catastrophic fall from a balcony-a lawsuit can be brought against the tenants.

That's why it's important that parents help guide their children when they move from the relatively protective confines of an on-campus dormitory to their first real home of their own.

"Now is the time of year when both students and parents are thinking about the living arrangements for the upcoming summer or fall semester. But before the ink is dry on the lease, parents can help protect their college-aged students and themselves by scoping out the place, interviewing potential roommates and educating their kids about their responsibilities as a tenant," said Christie Alderman, vice president, Chubb Personal Insurance.

Alderman said parents should coach their children about the responsibilities of hosting a party and offer them advice, such as limit the number of invitations and have a plan to end the party if it gets too rowdy. "What happens if a guest starts climbing onto the roof? Or the party gets too big and spills out into the street? Or dozens of kids start dancing and bouncing up and down on a small deck or balcony?"

In addition to advising their children how to party safely and responsibly, parents can help inspect a rental property before their children move in. Many rentals near college campuses are older homes in relatively poor condition. Alderman suggested doing a walk-through of the rental and photographing any problems, such as rotting floor boards, a missing handrail or a leaky faucet. Having this documentation can help in the event of a landlord's lawsuit to demonstrate that the condition was not caused by your children.

Alderman also advised parents to ask their insurance agent if their homeowners and umbrella policies will respond to the potential off-campus housing liability exposures they and their children may face.

"It is especially important to make sure that your liability limits are substantial enough," said Alderman. "We've seen parents face multi-million dollar liability claims after their child or a roommate hosted a party that ended with a catastrophic injury."

As an extra measure of protection, Alderman suggested that parents ask their agent whether their child should obtain his or her own liability and renters insurance coverage.

About Chubb
Since 1882, members of the Chubb Group of Insurance Companies have provided property and casualty insurance products to customers around the globe. These products are offered through a worldwide network of independent agents and brokers. The Chubb Group of Insurance Companies is known for financial strength, underwriting and loss-control expertise, tailoring products for the needs of high-net-worth individuals and commercial customers in niche markets and select industry segments, and outstanding claim service.

The Chubb Group of Insurance Companies is the marketing term used to describe several separately incorporated insurance companies under the common ownership of The Chubb Corporation. The Chubb Corporation is listed on the New York Stock Exchange (NYSE: CB) and, together with its subsidiaries, employs approximately 10,000 people throughout North America, Europe, Latin America, Asia and Australia. For more information regarding The Chubb Corporation, including a listing of the insurers in the Chubb Group of Insurance Companies, visit www.chubb.com.

distributed by