Is your college student covered?

Do you have a child that’s headed off to college? It’s important to make sure they are adequately insured before they head off to school. Many students moving into a dorm or off-campus housing will bring expensive electronics, such as laptops and tablets, sports equipment and other items necessary for college living, that may or may not be covered under their parents’ homeowners insurance policy.

We recommend taking the following steps:

Let your Account Manager know if your child will be living off-campus-Students who will be living in off-campus housing may not be covered under their parents’ policy and may need to purchase their own renters insurance coverage.

Let your Account Manager know if your child will be bringing their car with them to school-If your child has their own car and will be taking it with them to school, the cost of their insurance will be based on where the car is garaged. Many auto insurance companies give a discount for a Student Away at School, or a Student that gets good grades while at school.

Create a dorm inventory-Making a list of all the items the student will be bringing to school, along with it’s estimated value, can help determine how much insurance you need to purchase. If you ever need to submit a claim, an inventory will help speed the process.
Free software from makes creating an inventory easy.

Consider adding an endorsement-Typically, young adults (living with their parents) are covered under their parents’ homeowners insurance during their college years. Coverage is generally 10 percent of the personal property coverage amount on the homeowners policy. However, parents should consider purchasing an endorsement on their policy to provide a higher level of insurance coverage.

Consider a stand-alone policy for expensive electronics-A stand-alone policy for expensive electronics may provide coverage against liquid spills, accidental damage and other events not covered by the standard homeowners policy.

Your McSweeney & Ricci Account Manager will be happy to review your homeowners insurance policy to ensure your student has the proper levels of coverage.

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