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Insurance for College Students

Insurance for College Students

It seems just like yesterday your little pumpkin was born, but now he or she is off to college. You pack up his or her belongings, drive the child off to the dorm (or apartment), drop him or her off, and breath a sigh of relief. Will he get enough sleep? Will she get enough to eat? Will he make the football team? Will she get the grades she needs to get into law school? All of these are normal worries. Something else you should be worrying about: is your kid (and his or her belongings) covered while he or she is at university? Now THAT is a good question. Let’s find out more about insurance for college students. Dorm Life vs. Off-Campus Life While Tommy or Jill is living at the dorm or off-campus in an apartment, are their belongings covered? The answer: it depends. If your student lives in the dorms on campus and is registered as a full- or part-time college student, their belongings may be covered by your homeowners’ insurance policy. Typically the amount of coverage will be 10% of the contents limit on your homeowners’ insurance policy. For example, if your contents limit if $50,000, then the limit for your student will be $5,000. Will this cover all of his belongings? If he has an expensive computer or other electronics equipment, you may want to consider increasing your contents limit at home or talking to your broker about special coverage for these items. There may also be an age limit for this coverage, usually age 25 or 26. If you have a college student...