As students head off to college, many are not considering insurance options to keep them protected on-campus. According to the Insurance Information Institute, approximately 50% of all on-campus crimes are burglaries. Many college students may be unaware of the precautions they should take to avoid theft or damage of their personal belongings . Parents of college students are often unaware their homeowners insurance may protect their child's possessions while they are living in campus dorms.
Here are some facts on insurance coverage, and tips for college students to lower their risk of theft and damage:
Understanding A Student's Coverage at College:
- Students under 26 years old, who live on-campus, are usually covered under their parents' homeowners insurance policy, under "off-premises" coverage. Each policy is different, so be sure to contact your agent to understand your policy limits.
- Electronics may have stand-alone insurance depending on the warranty or the benefits used from the credit card used to purchase the item.
Ways to Lower Your Risk of Theft or Damage of Personal Belongings While on Campus:
- Leave your valuables at home.
- Create a dorm inventory by taking pictures or writing down all the items you are taking with you.
- Do not access personal accounts on public computers.
- Purchase and use a laptop security cable.
College can be a stressful time for students; however, by considering these tips, and with the help of your agent, you can be provided with some peace of mind. For more tips on ways to prevent theft or damage of personal belongings at college, visit MarketWatch.