Sending your child off to school? Here’s where your home insurance policy can help.
Homeowners insurance policies protect the personal possessions in your home as well as the structure of the home itself. But what happens when you take your personal belongings out of your home? Are they still covered by your insurance plan?
As recent high school graduates prepare to go off to college, their parents may have a lot of questions. The good news? Standard homeowners insurance policies typically cover a child’s belongings while they’re living on a college campus. Typically, students can be covered under their parents’ health insurance plans until age 26, as long as they’re listed as a dependent. With home insurance policies, the same rule applies.
Of course, because we’re talking about insurance, there are exceptions to every general rule of thumb. A parent’s homeowners insurance plan won’t necessarily cover a student who lives off campus. Policies can vary by insurer and by state. In order to protect your child and her possessions in the event that there’s a robbery or another serious problem, find out what our director of underwriting, Mike Gulla, has to say about homeowners insurance and student housing.
When does homeowners insurance cover student accommodations?
According to the National Association of Insurance Commissioners, a student’s belongings may be covered by their parent’s homeowners insurance policy as long as they’re younger than 26, enrolled in school full-time and live on-campus or in university-sanctioned housing.
A student’s belongings may be covered by their parent’s homeowners insurance policy as long as they’re younger than 26, enrolled in school full-time and live on-campus or in university-sanctioned housing.CLICK TO TWEET
Since these accommodations are considered to be temporary housing units, most providers won’t require the policyholder to list them before providing contents and liability coverage. Some home insurance providers may set a coverage limit for anything that’s off premises (like a college dorm).
Since terms and policies vary depending on the insurer you choose, it’s best to contact your insurance agent before your child heads off to college. Tell them your policy number and find out whether you need to make any changes or purchase additional coverage. You may also be able to view details about your policy online.
When aren’t student accommodations covered?
A homeowners insurance policy may not cover a student living outside the home if they’re living in off-campus housing like an off-campus apartment. It’s important to note that even if an organization like a fraternity or sorority is recognized by a university, its house could still fall into the category of off-campus property.
A homeowners insurance policy may not cover a student living outside the home if they’re living in off-campus housing like an off-campus apartment. It’s important to note that even if an organization like a fraternity or sorority…CLICK TO TWEET
If your child is living off campus, you’ll probably need to look into getting them renters insurance. In addition to covering your personal belongings, it offers liability protection and pays for additional living expenses in case your son or daughter needs to live somewhere else while the property is being repaired. Some renters believe that a landlord’s homeowners insurance policy will cover them. But it won’t cover the cost of losses or damages if something happens to the renter’s personal belongings.
Luckily, renters insurance policies are pretty affordable. Nationwide, the average cost of renters insurance is about $17 a month. Roommates can share an insurance policy and split the cost of premiums. Just keep in mind that payouts would be issued to both people and any claims that are filed would impact both parties.
Pro tip: Check with the student resource center to see if your child’s university partners with any insurance companies that offer registered students discounted rates.
How to keep belongings safe at school
Moving away from home is a big deal for many new college students. Your child may feel more vulnerable, particularly until he gets used to sharing bathrooms, dining halls and sleeping quarters with strangers. Regardless of whether they’re living on or off campus, college freshmen should keep these tips in mind:
- Shoot a video and take inventory of everything you bring to school. Keep track of the serial numbers associated with your electronics.
- Lock all doors and windows when you leave your room. Ask your roommate to do the same.
- Store important items and documents in a safe or a box with a lock.
- Follow all dorm and building safety regulations to prevent fires and other disasters.
- Be aware of your surroundings. Report suspicious people or activity to campus security.
- Never invite strangers inside.
- Avoid leaving personal items unattended, even in common spaces.
- Don’t let your social media friends and followers know when you’ll be away from your dorm room or apartment.
Final word
The U.S. Department of Education found that there are only eight burglaries per 10,000 full-time college students. Still, protecting personal belongings is something every college student should be concerned about. Replacing everything they own — including electronics, books, furniture, clothes and jewelry — could cost thousands of dollars. Students with expensive possessions may want to add a floater or rider to the homeowners or renters insurance policy protecting them.
Still have questions about home insurance coverage for student housing? Contact a Hippo specialist. We’re here to help!
