Does Your Home Insurance Cover College Students?

If you’re helping your child pack for college this fall, now is a good time to check to see if your home insurance will protect all of her belongings. If she lives in an on-campus dormitory, your homeowners or renters policy may not cover her most expensive possessions. And it may not protect her items for theft or damage, if she lives off-campus. If you think you may need to buy a new policy to give your family more coverage, apply for home insurance quotes.

College students bring thousands of dollars worth of belongings with them when they go off to school. They have expensive electronics, computers, clothes, jewelry, sports equipment and much more. Even though campuses are safe environments, college students’ possessions could be stolen. The U.S. Department of Education reports that there were about 31,851 campus burglaries in 2008. Their belongings could also be damaged in a fire or other accident. The National Fire Protection Association reported that there 6,000 on-campus fires in 2008.

Call your insurance agent or insurer to find out how much coverage your college student’s belongings have under your existing policy. Here are three steps to take to make sure your child’s possessions are protected:

• Make a list of all the items your child plans to bring to take to college and assign an estimated value for each one. Having an up-to-date inventory not only helps you settle insurance claims faster in the event of theft, fire or other type of disaster, but it also helps you determine if you have enough coverage. If you want to buy a new policy, obtain several home insurance quotes.
• Find out if your child’s expensive computers, electronics and jewelry are subject to coverage limits under your current homeowners policy. If the limits are too low, you may want to buy a special personal property floater, or an endorsement, for these items, according to the Insurance Information Institute. You may also consider buying a stand-alone insurance policy for your child’s computers and cellphones. Some insurers offer policies specifically designed for students living away at college. If you plan to buy a new policy, get home insurance quotes.
• Ask your insurance agent or insurer about coverage for your child’s possessions, if she lives off campus. Your child may not be covered under your home insurance policy and may need to buy renters insurance to protect her belongings from theft and damage.

Remember when you buy a homeowners or a renters policy, you’re insuring the structure of your home and your personal belongings. Once you have determined the best coverage for your family’s needs, you’re ready to obtain home insurance quotes. Call agents in your local area, contact several insurance companies directly or use InsuranceQuotes.com to instantly get competitive home insurance quotes from the nation’s leading insurance providers. Take the time to protect you and your family today.