Skip to main content

PROTECTING YOUR COLLEGE STUDENT'S POSSESSIONS AT SCHOOL














If you have a son or daughter in college, you probably sent them with most of their possessions, including expensive laptops and other electronics. So what happens if their dorm room is robbed? Are they covered? What about off-campus? Learn more about the issue here…

If you have a son or daughter heading off to college this fall, you’ve probably sent them along with most of their most prized possessions. Laptop, stereo, smartphone, mountain bike… it all adds up to several thousands of dollars of personal gear.

So what happens if they get robbed? Will you be stuck for the replacement costs, or are they covered on your homeowner’s insurance policy?

Believe it or not, the insurance policy on your home might just cover what your kid takes to school. But there’s a catch: Many policies only cover the student if they live in a dorm on campus. If they’re in an apartment or house on their own, you might not be covered.

One alternative to covering your student’s possessions while they’re away at school is renter’s insurance. Renter’s insurance is a very affordable way to make sure you’re not out thousands if there’s a break-in. For as little as $15 - $20 a month you can have a bit of piece of mind you won’t find yourself in the Apple store again plunking down for a new Macbook Air.

A few notes:

1. Your student won’t be covered by their roommate’s policy. Policies are specific about covering a single policy holder.

2. A renter’s policy can also include liability coverage, much like your homeowner’s insurance.

3. Taking inventory of possessions and keeping detailed records (with photos and serial numbers) is essential. It provides helpful evidence of ownership in the case of a claim.

You’ll want to talk to your insurance agent about your specific situation, needs, and your policy. Don’t overlook this opportunity to protect your student and your wallet.

Need a referral to an insurance agent? I can help recommend a few I know and trust: valeriemcconville@gmail.com

Comments

Post a Comment

Popular posts from this blog

4 TIPS FOR A PRODUCTIVE 2021

  4 Tips for a Productive 2021 (Family Features) This year has taught many workers a thing or two about being productive when offices and homes blend into one. As the calendar turns to 2021, consider these key products and processes to stay productive next year. Find a system (and stick to it): Creating an organizing system is an easy way to ensure your at-home workspace is ready for optimal productivity. Designate space to house all your work items – a drawer, cabinet or box – and keep work items organized by type (pens, papers, computer gear, etc.) At the end of each day, transitioning to “offline hours” can be easier when you have a place to stow your work items. Start your day clean: Studies have shown cleanliness has a direct impact on productivity. Yet, many people struggle to find the time and energy to clean, especially at the end of a busy day at home. An option like The DEEBOT T8 from Ecovacs provides a hands-free cleaning experien...
Post a Comment
Read more

UNDERSTANDING HOW POCKET LISTINGS WORK

Have you ever wondered what a “pocket listing” is?  Learn a little bit about this trend in hot markets and how an agent familiar with pocket listings can help you sell your home faster or find homes which haven’t hit the market yet. If you’ve been searching for a home or have been considering selling your home, you may have heard the term “pocket listings” from real estate agents or even friends and family. What is a pocket listing? Where did the term come from? How are pocket listings being used today to buy and sell homes? Pocket listings are homes which are for sale but not yet widely advertised or entered into typical MLS databases. Often an agent will enter into an agreement to sell a home, but will first reach out to their personal and professional network to see if anyone may be interested in a quick, private purchase. Ideally, the agent knows someone or another agent who has a client interested in the home and the whole process of listing and marketing the ho...
Post a Comment
Read more

UNDERSTANDING MULTIPLE OFFER SITUATIONS

In a seller’s market, multiple offers are not uncommon. But what does that really mean?  And how should you and your agent work together to generate the most interest in a multiple offer situation? Find out more in my post…  When inventory is tight and a market heats up, sellers often dream of finding themselves in a multiple offer situation. In a multiple offer situation, more than one potential buyer submits a written offer on the home. With multiple offers on a property, the listing agent can then try and “shop the top offer” in order to try and get the best deal possible for their client. If you live in a hot market, how do you structure your listing in such a way that you get the best possible offers in a multiple offer situation? One strategy for cultivating multiple offers is letting buyers know that the seller will only entertain offers on a certain date. Rather than deal with offers dribbling in one at a time, there’s a deadline for offers. When thi...
Post a Comment
Read more