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College students and homeowner's insurance coverage

Posted On Fri, July 22, 2011

Parents may want to consider reviewing their homeowner's insurance to find out their soon-to-be college student child's possessions will be covered while the student is away at school.

Some homeowner's insurance rates cover student's possessions while living away at school, while others are more stringent. Some policies only cover a student if they live on-campus and some will only extend coverage to students living away up to a certain percentage of a family's total policy amount.

The Insurance Information Institute recommends that families take two important steps before a child moves away for school. Creating an inventory of all items the child will be taking with them and documenting estimated values can help a family decide how much insurance coverage their child needs and expedite the claims process in the event that property is stolen or damaged.

Families are also recommended to contact their homeowner's insurance provider to find out if their child will be covered while away at school. If not, families may want to consider supplemental insurance for their college student, or look into renter's insurance if the child will be living in an apartment off-campus.

The Insurance Information Institute states that most homeowner's insurance affords coverage for children living in a college dorm, but the coverage often only extends to up to 10 percent of the contents limit. Students who live off campus are less likely to be covered under a traditional homeowner's policy.

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