College can be an exciting time for young people. It often serves as the first major step on the road to independence. For a parent, it can be both exciting and sad to watch your child leave home. This time also can be fraught with worries. Will they get enough to eat? Will they succeed without help? Will they and their possessions be safe away from home?
The last question, of course, is a significant concern and, for parents of first-time college students, the ins and outs of insurance coverages are not always clear. From auto coverage to renters insurance, there’s a bit to learn about the life of a college student.
When a student moves to college, she or he often brings many belongings from home. In addition to clothes, shoes and toiletries, most college students take stereo systems, cell phones, laptops, jewelry and other valuable items to their dorm room. At home, possessions are protected under a homeowners policy. But what happens when a child is away at school?
In an environment where theft is a real problem – there are approximately 798 burglaries for every 100,000 students – proper coverage is important. For students living in dorms, the family’s homeowners insurance can protect many possessions. But don’t take this for granted. Be sure to contact an independent agent to verify the coverage you may already have. As Selective notes, some policies limit coverage on dependents’ dorms to 10% of the value of the home’s total coverage amount. So be sure you know the coverages for your homeowners insurance policy.