“Some home insurance policies may extend coverage to resident relatives. But in most cases, it is still a better idea to have your own coverage.
In the event of a loss, your parents’ home insurance only has a limited amount of coverage for personal property. Chances are they will want to use their coverage for bigger-ticket items like furniture and their own belongings, since they pay for the policy.
To ensure that everyone has enough personal property coverage, it would be better for you to have your own renters insurance. “