In just a few weeks, students will be heading off to college for the start of fall classes. As you help your child pack up essentials like a computer, microwave, mini refrigerator, e-reader, smart phone, television, and video gaming system, you might be wondering: Are these valuable items protected by your homeowners insurance policy?
Dorm Room Coverage: What Your Homeowners Insurance Covers
Most homeowners insurance policies will extend coverage to theft or loss of personal belongings in your child’s dorm room. This means if your child’s laptop or other electronics are stolen from their dorm, your policy should help cover the loss—up to a certain limit.
Who qualifies as an “insured” under your policy?
Homeowners policies typically define “insured” to include:
-
A student enrolled in school full-time (as defined by the school)
-
Who was a resident of your household before moving out to attend school
-
Provided the student is under age 24 and your relative
So, as long as your child meets these criteria, their belongings in the dorm are covered.
What Happens if Your Child Is Over 24 or Still in School After Four Years?
If your child takes five or six years to finish their undergraduate degree, or moves on to graduate school and turns 25 before completing school, they are no longer automatically insured under your homeowners insurance.
Good news:
Many insurance providers offer an endorsement called “Student Living Away from the Residence Premises.” Adding this to your policy can extend coverage to a student who is 25 or older. Be sure to discuss this option with your insurance agent if your child will be in school beyond the age of 24.
Living Off-Campus? You’ll Need Renter’s Insurance
It’s important to remember that homeowners insurance does not extend coverage to an off-campus apartment rented by your child. If your student is living off campus, you should purchase a separate renter’s insurance policy to protect their belongings and provide liability coverage.
Why Review Your Policy Now?
College is a big transition—for both students and parents. Before your child leaves for school, take time to:
-
Review your homeowners insurance policy: Make sure coverage limits are high enough for your child’s expensive electronics and other valuables.
-
Consider policy endorsements: If your child is over 24, ask about adding the “Student Living Away from the Residence Premises” endorsement.
-
Look into renter’s insurance: For students living off campus, this is a must-have for protecting personal property.
Need More Information?
For more details on homeowners insurance coverage for your child’s dorm room, or to learn about renter’s insurance, call Greg Magnus at 877-376-8676 x157.
Protect your student—and their stuff—so you can both enjoy peace of mind this school year!
