Coverage for College Students
If you have a student heading to college this fall, consider the following;
Most home owners policies are designed to cover children's personal property in the event of damage or theft. Students often has expensive items with them at school, including laptops, TVs, bikes, etc. Check with your insurance agent on how specific coverages vary, such as age limits or different coverage for full vs part time students.
Students should take extra steps to protect their belongings, like always locking doors, making an inventory list of everything they bring with them (by taking pictures or a video). Never leave valuables in an unlocked place or in high traffic areas.
If they are bringing any prized possessions along that have a high worth, you should consider adding specific coverage for it, as many companies limit the amount they will pay out for a single item. Identity theft is another added coverage to consider.
While personal property coverage is generally covered on your home owners policy while students are away from home, a renters policy should be considered for students who are in apartments. In the event of a major loss like a fire, a renters policy can cover additional living expenses.
Depending on if your child takes a vehicle with them to school or goes without, your coverage could change. A student at school without a vehicle could allow you to take a driver off of your policy. A student with a vehicle may need a change, so consult with your insurance agent before they go.
Discuss these items with your insurance agent to make sure your student is properly covered!