If you want your kids to have all the comforts of home while they’re at college, on moving day you’ll most likely need one of those vehicles that beeps when it backs up. My kids have everything from microwaves, mini-fridges and bicycles to laptops, guitars and game systems. In other words, a lot of things that can be damaged or stolen.
Now comes the big question: do you need more insurance to protect their possessions?
I can tell you with complete certainty that the answer is: maybe. As in most circumstances, it depends on your individual situation.
According to our friends in underwriting here at COUNTRY Financial®, the dorm room or off-campus residence typically would not be considered a secondary residence, and the student’s possessions should be covered under your homeowners policy if your student:
- Is enrolled in school full time, as defined by the school;
- was a resident of ‘your’ household before moving out to attend school; and
- is under the age of 24.
However, there are always exceptions. It’s important to talk to your agent or financial representative about the specifics of your policy, as many students require renters insurance to properly protect their belongings.
Avoid the inconvenience of a claim
Share these safety tips with your student:
- If taking a bike to campus, register it with campus security so it can be tracked.
- Don’t keep really valuable items in your dorm room. If you can live without it for a few weeks at a time, leave it at home.
- Protect electrical devices with a power strip that is equipped with a surge protector.
- When not in your room, make sure you don’t leave with laptops, phones and other portable devices unattended.