As your college student heads back to campus this fall with a computer, cell phone, perhaps a video game and other valuable items in tow, have you considered what might happen if one or more of these items were damaged by fire, vandalized,  or perhaps stolen?  Would your homeowners policy cover such a loss, allowing replacement of your student's possessions while away at college? Of course, as a parent, you always have enough to worry about when your kids go to college. Protecting their valuables does not have to be one of your headaches.  You can cover that with the right insurance. But it is important to plan ahead so that you can avoid the risk of being caught unaware about your homeowners insurance coverage.

Taking some time to sit down with your child, list everything that will be moved to college, and then take some time to put a value on each item.

With that information in hand, you're ready to contact your insurance agent to verify the details of the your insurance policy including any coverage limitations.  Once you know the maximum coverage limit provided by your homeowners insurance for your student, just compare it to the total value of your child's belongings. Of course, it's time to increase your coverage if that total value surpasses the maximum amount of allowable coverage, and you’ll want to do it now before there is a need to file a claim.

Your agent will likely ask whether your child will be living in an off-campus apartment or on campus. Most homeowners insurance policies will cover your student's personal property in a college dorm up to the limits of your policy.  However, this is typically not the case if your child will be living off-campus.  Instead, you will need to consider a renters insurance policy for your student. 

No matter which type of insurance applies, it is important to have an inventory ahead of time of all items – including descriptions, serial numbers, and other details.  Of course, you'll also want to caution your teenager about taking normal precautions to protect their belongings in their new environment. 

Being prepared and paying attention to insurance coverage details as soon as possible will mean a smoother transition for both of you. The key is to not assume that you have adequate coverage for your child's possessions at school but to check with your agent to understand all insurance options for the best result.

Here at the Mader Insurance Agency, we help parents to sort through their options when they have children away at college. So we can answer your questions and help you, too.  Feel free to contact us at your convenience for a no-obligation review of your homeowners insurance policy and a discussion of what might be your best course of action.