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Does Your College Student Need Insurance?

Insurance Coverage for College Students

It’s time for college students to migrate back to school. But before they leave home with their valuable textbooks, laptops, and apartment accessories, students should make sure they have adequate insurance in Antioch, CA. A typical student can take a variety of personal items to college, including a laptop, TV, stereo, microwave, refrigerator, and more. Should these items be damaged in a fire, natural disaster, or stolen, you, as a parent, will be responsible for replacing the lost possessions. Luckily, with insurance coverage for students, your kid’s belongings can remain protected.

If your kid is staying on the college campus, your current homeowners insurance policy may protect their possessions that they take to college. Typically, a parents’ homeowners insurance policy will cover property stolen away from home up to a limit of 10 percent of the contents coverage. For example, if the parents’ home is insured for $100,000, the contents coverage would be $50,000 so the coverage for a student away at college would be $5,000, minus the policy’s deductible. Talk to your insurer to see if there are any exclusions, such as if your kid is attending an out-of-state college.

If your child is living off campus, homeowners insurance will generally not provide any coverage for their possessions. In this case, renters insurance is required. Renters insurance covers the following:

  • Lost or damages possessions as a result of fire, theft or vandalism
  • Liability in the event that a visitor is injured on the premises
  • Additional living costs if the renter has to move out while the space is being repaired from a peril

Additionally, if your student has a vehicle at college, it is important to contact your agent so your insurance company knows this. A vehicle is rated based on how it’s used and in what city it is located. If he or she doesn’t have a vehicle at college and is more than 100 miles from home, you may benefit if a resident student rate is applied for the policy.

Need help securing the right coverage for your college kid’s needs? Talk to the experts at Jack Stone Insurance Agency! For all of your insurance policies in Antioch, Brentwood, and beyond, contact us today.