Many students are getting ready to pack up all of their belongings and head off to college over the next couple of weeks. Although some students choose to live off campus, on campus-dormitory housing has a special perk. That is – most of the student’s personal property will be covered under their parents’ homeowners’ insurance policy.
The homeowner’s policy can extend for up to 10% of the content coverage shown on the policy, after the deductible is paid. For example, if the policy has $100,000 of dwelling coverage, then the student will be covered up $10,000 should anything happen to his or her on-campus belongings. It’s imperative to make a list of all of the possessions that your son or daughter may be bringing to school to make sure this doesn’t exceed your maximum coverage.
Students that are planning on living off-campus should take serious consideration for purchasing renter’s insurance. These policies are very inexpensive and provide both content and liability coverage. Check out our blog below on “Renter’s Insurance…what’s the buzz all about??” for some insight on the coverage’s!
Call us today at 781-431-9600 to find out more information about what on-campus personal belongings will be covered or to learn more about what your policy covers in general. We are always happy to help 🙂