A Basic Guide to Campus Coverage

September 3, 2019

Make sure your college student’s year starts on the right foot by double checking your insurance policy to ensure they’re protected. According to the National Center for Education Statistics, burglaries constitute approximately 50 percent of all on-campus crimes. It’s important that college students and parents take steps to prevent theft and ensure coverage in case something does happen. Here is a list of things to consider:

  • Students who live in a dorm are covered under their parents’ standard homeowners insurance policies. That is, their possessions are protected by “off premise” coverage. However, some homeowners policies may limit this amount of insurance, so make sure you understand your own policy.
  • Students who live off-campus are likely not covered by their parents’ homeowners policy. However, your insurance professional can tell you whether your homeowners or renters policy extends to off-campus living situations. If it does not, those living off-campus may need to purchase their own renters insurance policy to protect their belongings.
  • New computers and smartphones may carry stand-alone insurance. At the time of purchase, you may be offered insurance or other protections against theft or loss. Also, check the credit card used for the purchase, to see what protections might be available.
  • Consider a stand-alone policy specifically designed for students living away at college. This can be an economical way to provide additional insurance coverage for a variety of disasters.  
  • If your college-bound student is leaving the car at home, make sure to tell your insurance agent. Depending on how far he or she is going away to school, you might be eligible for a premium discount.

As you and your student prepare for college, don’t forget to add reviewing insurance coverage to your back-to-school list.