With burglaries constituting approximately 50 percent of all on-campus crimes, it's important for college students and their parents take steps to prevent theft, adhere to safety measures—and review their insurance coverage.
Campus coverage basics
It's best to consult one of our insurance professionals for the details of your family's specific coverage and where you might need additional protections, but here are some general guidelines:
- 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 – Your insurance professional can tell you whether your homeowners or renters policy extends to off-campus living situations. If it does not, to protect student belongings, those living off campus may need to purchase their own renters insurance policy.
- Computers and smartphones may carry stand-alone insurance – If you're getting these items new, 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.