As families prepare to send a student off to college, the checklist can seem endless. Bedding, textbooks, laptops, meal plans and dorm supplies often receive plenty of attention. Insurance, however, may not be discussed until something is lost, stolen or damaged.
Michael DeChiara of Atlantic Insurance Brokerage in Kingston recommends reviewing your family’s insurance coverage before the car is packed.
“Parents spend a great deal of time making sure their student has everything needed for college, but insurance coverage is one item that can easily be overlooked,” said Mike. “A brief conversation with your agent before move-in day can help uncover potential gaps and provide valuable peace of mind.”
Are Dorm Room Belongings Covered?
A student living in a college dorm may have some protection for personal belongings through a parent’s homeowners policy. However, deductibles, coverage limits and eligibility requirements can vary.
Families should ask specifically about laptops, tablets, televisions, bicycles, musical instruments and other expensive items. Certain valuables may have limited coverage or require additional protection.
“Do not assume that every item your student takes to school will automatically be covered in every situation,” said Mike. “It is important to understand the policy limits, deductible and whether additional coverage should be considered for more valuable belongings.”
What About an Off-Campus Apartment?
Students living in an apartment or house away from campus may need their own renters insurance policy. Renters insurance can help protect personal belongings and may also provide personal liability coverage if the student accidentally causes property damage or someone is injured in the apartment.
A landlord’s insurance generally protects the building, not the tenant’s clothing, furniture, electronics and other personal possessions. Parents should ask whether their homeowners policy extends to an off-campus rental or whether a separate renters policy would be more appropriate.
“Renters insurance is often more affordable than families expect, and it can protect much more than a laptop or television,” said Mike. “The personal liability protection included in a policy can be just as important as the coverage for belongings.”
Is the Student Taking a Car?
Parents should let their insurance agent know whether the student is taking a vehicle to college, leaving it at home or attending school a significant distance away. Where the vehicle is kept and how frequently it is driven may affect the policy.
Families should also ask whether they qualify for a good-student discount or a student-away-at-school discount. Eligibility and potential savings differ by insurance company, making it important to review the available options with an agent.
Create a College Inventory
Before move-in day, take photographs or video of the belongings going to school. Record serial numbers for electronics and save receipts for higher-value purchases. A simple inventory can make it easier to document a loss and work through the claims process.
“The goal is not to make preparing for college more complicated,” said Mike. “It is to help families understand their protection so they are not surprised after a loss. A quick insurance review can be one of the most valuable items on the college checklist.”
Before Your Student Leaves
Confirm whether the student will live on or off campus, review coverage for laptops, bicycles and electronics, photograph valuable belongings, record serial numbers and tell your insurance agent where the student’s vehicle will be kept. Parents should also ask about good-student discounts, student-away discounts, renters insurance and personal liability protection.
To learn more or review your family’s insurance coverage before college move-in day, contact Michael DeChiara at Atlantic Insurance Brokerage, Inc., located at 80 Summer Street in Kingston. Call 781-585-5551, email tdechiara@aib-insurance.com, or visit aibmass.com. Atlantic Insurance Brokerage reminds families that having the right insurance is no accident.
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