A question that we field quite often is college students asking if their personal items are covered by their parent’s insurance policy while they are living in a dormitory or a rented house on campus. In all cases this depends on the coverage that their parents have purchased. It is never good to assume that students’ items are covered under their parents’ policy. Insurance carriers typically limit the amount of personal property coverage if the personal property isn’t at the primary residence. Before heading off to school, have the policy holder call the insurance provider or review the documents to see if a student is covered.
If the current policy does not cover a college student or does not provide enough coverage, you should consider adding a policy or rider to cover the student’s personal belongings. A college student can have some expensive items that would be hard to replace on a limited budget if damaged or stolen. Laptops, sports equipment, TVs and other electronic devices commonly owned by students can be protected by purchasing renter’s insurance.
Renters insurance is affordable and will give you peace of mind in the event that something does happen your items. It is also good to note, that while college students tend to move a lot, it is important to update your policy each time you move to ensure that your policy is current.
This content is offered for educational purposes only and does not represent contractual agreements. The definitions, terms and coverages in a given policy may be different than those suggested here and such policy will be governed by the language contained therein. No warranty or appropriateness for a specific purpose is expressed or implied.