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As your college student heads back to campus this fall with a computer, cell phone, perhaps a video game and other valuable items in tow, perhaps you have already considered what might happen if these items were vandalized, damaged by fire or perhaps even stolen.  Would your homeowners policy cover such a loss, allowing replacement of your student's possessions while away at college?

In fact, you can protect your student's valuables against these kinds of losses through the right insurance. If you plan ahead, you can avoid the risks of being caught unaware about your homeowners insurance coverage.

A little advanced planning can often save the day. You'll want to sit down with your child and list everything that will be moved to college. This will then allow you to put a value on each item.

When you have that information documented, then contact your insurance agent to confirm your homeowners policy coverage including any coverage limitations.  When you have determined the maximum coverage limit available for your student, then compare it to the total value of your child's belongings. If the total value exceeds the maximum coverage, you’ll want to know it now before there is a need to file a claim.

Your agent will ask whether your child will be living in an off-campus apartment or on campus. Most homeowners insurance policies will cover your student's personal property in a campus dormitory up to the limits of your policy.  However, this is typically not so if your child is living off-campus.  If that is the case, then renters insurance is the coverage you will need. 

Regardless of whether homeowners insurance or renters insurance will apply, it is critical to have an inventory of all items in advance   – including serial numbers, item descriptions, and other details; and of course, it's important to advise your child about taking normal precautions to protect their belongings while they are away at school. 

Attending to insurance coverage details and making good preparations before your teenager leaves for college will result in a smoother transition for both of you. For your own peace of mind, the key is to not assume you have adequate insurance coverage for your student's possessions at school without checking with your agent to be aware of all insurance options.

Here at the Community Insurance Services of Maryland LLC, we help parents to sort through their insurance options when sending their student off to college; and we can answer your questions and help you, too.  Feel free to contact us at your convenience for a no-obligation review of your homeowners insurance policy and a discussion of what might be your best course of action to protect your child's belongings.