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News | News Release Contact: Katha Treanor, (804) 371-9141
For Immediate Release: December 28, 2016

RICHMOND — American households are changing. Increasingly, middle-aged adults are finding themselves "sandwiched" between their children and aging parents. Whether your elders are moving in with you; your adult children are returning home to live, or you are assuming responsibility for a grandchild or other family member, consider the insurance implications of these changes, says the State Corporation Commission’s (SCC) Bureau of Insurance.

"As family relationships and households become increasingly complex, we encourage Virginians to review their insurance coverage and understand the insurance implications of their unique living situation," said Virginia Insurance Commissioner Jacqueline K. Cunningham. "Asking questions before the move will help both parties decide what, if any, changes need to be made to existing coverage."

Consider the following questions when aging relatives move into the household:

  • Are you current on health, auto and life insurance premium payments?
  • Are you covered by Medicare?
  • Should you consider long-term care insurance?

For the first time in more than a century, more adults age 18 to 34 are living with their parents than in any other living arrangement, according to Pew Research Center. Before welcoming an adult child back home, parents should determine the following:

  • How will health insurance be covered and who will pay for it?
  • Will we combine auto insurance policies? What impact will driving records have on premiums?
  • What belongings will the child bring? Will high-value items such as jewelry, be fully covered under the parents’ homeowners policy?

The Bureau of Insurance stands ready to assist Virginians with their questions regarding a variety of insurance topics. For more information, call the Bureau toll-free at 1-877-310-6560 or in Richmond at (804) 371-9741 or visit its website at For insurance tips to help modern households, visit the National Association of Insurance Commissioners’ InsureU website at Link logo