Student contents insurance

Posted: Mon Apr 05, 2010 04:29 pm Post Subject:

The coverage (if the policy exists) on your parent's homeowner insurance policy will normally extend to dorm rooms and places away from home for a student away at school.

Check with your parent's insurance agent...it should be covered. If not, you can purchase a renter's insurance policy, commonly called a "HO-4" policy that will take care of things. Roommates, if any, could complicate the insurance purchase and they will typically have to buy coverage as well.

InsTeacher 8)

Posted: Tue Apr 06, 2010 09:56 am Post Subject:

It's good that you're thinking of your risks beforehand. Your contents could be easily targeted by burglars. Either you may apply for students' content insurance, or you have to make sure that you're covered under your parents' home insurance. If you're leaving home without clarifying your doubts, you could land up in trouble!

Posted: Tue Apr 06, 2010 05:38 pm Post Subject:

Another option is to purchase a College Student Insurance Policy. These are typically very inexpensive and have low deductibles. Great for covering laptops, ipods, cell phones, bicycles, etc.

I recently purchased this for my son in college. $ 2000 in coverage with a $ 25.00 deductible with a premium of $ 60.00 per year. It may be a little higher on a per thousand cost basis, but there is a very low deductible and in the event of a claim it will not be attached to the parents homeowners insurance claim history.

Posted: Tue Apr 06, 2010 06:22 pm Post Subject:

Good post, InsuranceDude!

Posted: Wed Apr 07, 2010 11:39 am Post Subject:

First of all you should keep your contents concealed within the premises. Avoid keeping cash in bulk. Also, don't keep valuable contents within your premises.

Posted: Wed Apr 07, 2010 01:00 pm Post Subject:

[quote]you should keep your contents concealed within the premises]

don't keep valuable contents within your premises

Posted: Fri Apr 09, 2010 02:27 am Post Subject:

Insurance Dude, I looked at college insurance plans as well and the costs I saw were similar. But when we added up the contents coverage amount we really needed compared to what the base contract offered plus the cost per thousand and no liability coverage, I had an issue.

Our HO policy covers children away at school if they reside in a dorm room, not if they live in an off-campus apartment. My kids lived in dorms for only their freshman year and then moved off-campus after that. My son is living in an apartment with one of his buddies this year about 5 blocks from campus.

So, that's when I looked at the college policy and added up the costs and considered the lack of other coverage, (gee...no liability coverage and stupid college students?????) I called my agent and started talking. Had a couple of choices with our carrier: to add his apartment as a secondary location to our HO contract and make sure the contents were covered properly or to simply buy him an HO-4 policy. The costs were about the same, so we bought him the renter's contract. Did that because any losses go on his record, not mine.

It's a whopping $100 a year through my carrier, and it gives him $35k on the contents with replacement coverage, $100k of CPL, additional living expenses, defense costs and all those other nifty things a real policy gives you. We had to have the higher amount of UPP coverage; this kid is a toy-junkie, has worked his butt off to save money, and has electronics up the wazoo. Need about $12k for just that junk. No idea where he gets that need for toys thing. (Oh, wait a minute, I need to plug-in my IPod and help my kid with the new cool digital remote, be right back... )

If your HO contract won't extend coverage to the kid at school, see what it'll cost you for an HO-4 or an extension from your primary residence to cover the kid at school.

Insurance Dude- I left the link you pasted into your post even though it's a violation of our TOU...please read them- there's a link at the bottom of the page...

InsTeacher 8)

Posted: Sat Apr 10, 2010 11:07 am Post Subject:

I've asked my son to be sure that there are dead locks at the doors of their student accommodation. Theft & damage of student contents are on the rise!

Posted: Sat Apr 10, 2010 12:12 pm Post Subject:

Ins. Teach...that is exactly what I did when our daughter moved off of campus (end of her freshman year)...course that was like 11 years ago...(geeze I'm old)..but was the best coverage I felt (ho4) and the liab. coverage helped me sleep better :wink: she also had a couple of room mates. Fortunately we never had a claim the entire time she was in school...but I kept that ho4 on her wherever she moved till she married and bought a house!

Steven :?

First of all you should keep your contents concealed within the premises. Avoid keeping cash in bulk. Also, don't keep valuable contents within your premises.

Posted: Tue Apr 13, 2010 04:00 pm Post Subject:

So sorry about the link. I have nothing to do with that company and nothing to gain, other than trying to help out.

The renters policy certainly makes sense once the student moves out of the dorm and begins to aquire more peronal effects. First year dorm kids generally do not have that much stuff and, at least in Texas, liabililty from the homeowners insurance will automatically extend to a temporary location of an insured. My understanding is that a dorm room at college is considered a temporary location and a that a child temporarily away at college is considered a household member. Therefore, coverage will normally extend for both contents and liability.

The college student insurance offers lower deductibles and keep claims off of the parents homeowners insurance.

A renters policy is certainly a good option too. Especially, once the student moves out of the dorm and signs a lease of there own, the temporary status gets real cloudy at this point and a renters insurance policy would definitley be the way to go.

As always, there is more than one way to skin a cat.