{"id":3447,"date":"2015-09-18T16:16:45","date_gmt":"2015-09-18T23:16:45","guid":{"rendered":"https:\/\/www.costulessdirect.com\/?p=3447"},"modified":"2022-12-21T03:57:10","modified_gmt":"2022-12-21T03:57:10","slug":"will-homeowners-insurance-protect-your-college-student","status":"publish","type":"post","link":"https:\/\/www.costulessdirect.com\/blog\/will-homeowners-insurance-protect-your-college-student\/","title":{"rendered":"Will Homeowner's Insurance Protect your College Student?"},"content":{"rendered":"

For years and years, parents have the dream: a nice house with a home insurance<\/a> plan to match, a family, and a kid that\u2019s growing up way to fast. This fall, for many parents, the dream is over, but that\u2019s okay. As our kids strike off into the world, eager for college life, we get the chance to relax, but not until we\u2019re sure everything is taken care of financially.<\/p>\n

Fall sales and rapidly progressing technology are conspiring to make each new year of college the most expensive yet, with high-dollar items like laptops, HDTVs, and tablets becoming commonplace items for the hard-working student. Many classes require this technology, but it\u2019s hard not to feel a twinge of worry every time that $800 tablet is jostled into a backpack. It makes you wonder\u2026 Does my homeowner\u2019s insurance policy<\/a> protect my college student while they\u2019re away at college?<\/p>\n

The Actual Risks of Dorm Life<\/strong><\/p>\n

About 40,000 thefts occur on college campuses every year by most estimates, and some place the number of incidents even higher, so if you weren\u2019t worried about your student\u2019s expensive gadgets, maybe now is the time to start. Of course, why worry when you can be prepared?<\/p>\n

In short, your home insurance policy does extend its protection to your college student for the most part. If a valuable item is damaged or stolen, your homeowner\u2019s policy will typically cover the cost of repair or replacement as long as the student is still considered a part of your household and they\u2019re living on-campus.<\/p>\n

Not sure where you stand? Give us a call or click today<\/a> for more information on which policies cover what. Be prepared to answer questions about what financial responsibilities have been transferred to the student and which costs the parents are still covering (if any).<\/p>\n

Off-Campus Housing<\/strong><\/p>\n

If your student is living in a dorm or other form of on-campus housing, your home insurance policy will likely cover and damages or thefts to their electronics, but if they live in off-campus housing like a nearby apartment, the situation is very different. Chances are slim to none that your existing homeowner\u2019s insurance policy will provide adequate coverage.<\/p>\n

That doesn\u2019t mean coverage isn\u2019t available, it just goes by a different name: renter\u2019s insurance<\/a>. Similar to homeowner\u2019s insurance, renter\u2019s insurance covers the costs of repair or replacement of electronics, even when your kid isn\u2019t on their rented property. Renter\u2019s insurance is extremely affordable and provides a surprising amount of coverage, and many colleges actually take an active role in urging students to purchase renter\u2019s insurance. It\u2019s inexpensive, and it can save you and your family the financial hardship of having to replace a clumsy student\u2019s laptop three or four times over the course of a 4-year college program.<\/p>\n

In addition to insurance, follow these tips to make sure your student isn\u2019t taking unnecessary risks with their belongings.<\/p>\n

–<\/strong> Take pictures of your belongings and their serial numbers.
\n–<\/strong> Keep documentation like receipts, proof of purchase, and warranty information
\n–<\/strong> Lock your valuables away and don\u2019t share the key<\/p>\n

Sticking to these rules will minimize the number of thefts and make the claims process much easier. Give us a call or click today<\/a> for more information on how to make your student\u2019s college career as stress-free as possible.<\/p>\n","protected":false},"excerpt":{"rendered":"

For years and years, parents have the dream: a nice house with a home insurance plan to match, a family, and a kid that\u2019s growing up way to fast. This fall, for many parents, the dream is over, but that\u2019s okay. As our kids strike off into the world, eager for college life, we get […]<\/p>\n","protected":false},"author":1,"featured_media":3365,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"inline_featured_image":false,"footnotes":""},"categories":[720,703,701],"tags":[134,228,304],"acf":[],"_links":{"self":[{"href":"https:\/\/www.costulessdirect.com\/blog\/wp-json\/wp\/v2\/posts\/3447"}],"collection":[{"href":"https:\/\/www.costulessdirect.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.costulessdirect.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.costulessdirect.com\/blog\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.costulessdirect.com\/blog\/wp-json\/wp\/v2\/comments?post=3447"}],"version-history":[{"count":1,"href":"https:\/\/www.costulessdirect.com\/blog\/wp-json\/wp\/v2\/posts\/3447\/revisions"}],"predecessor-version":[{"id":6465,"href":"https:\/\/www.costulessdirect.com\/blog\/wp-json\/wp\/v2\/posts\/3447\/revisions\/6465"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.costulessdirect.com\/blog\/wp-json\/"}],"wp:attachment":[{"href":"https:\/\/www.costulessdirect.com\/blog\/wp-json\/wp\/v2\/media?parent=3447"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.costulessdirect.com\/blog\/wp-json\/wp\/v2\/categories?post=3447"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.costulessdirect.com\/blog\/wp-json\/wp\/v2\/tags?post=3447"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}