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 www.knowyourstuff.org 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.

More from the Latest News

Why Buy Insurance Through a Local Massachusetts Insurance Agent Like McSweeney & Ricci?

img-description

Just like how you can taste the difference when you buy produce from your local farm stand as opposed to getting it at the grocery store, some things are just better when they’re local. That stands true for insurance as well! (Granted we may be a bit biased.)  While you can go online and “in […]

McSweeney & Ricci Annual Summer Outing Office Hours

img-description

Pleased by advised that both McSweeney & Ricci offices will close at noon on Thursday, June 29th to allow our staff to enjoy our annual summer outing. In case of emergency, please call our main phone number at (781) 848-8600 or (844) 501-1359 and our answering service will contact us to assist you. We will re-open for normal business hours […]

Dog Bite Insurance in Massachusetts

img-description

People love their pets. Especially dogs. The dog is America’s favorite pet. Living within U.S. households are approximately 85 million dogs, which means 45% of homes have at least one dog. (1) Wise Voter.com reports that in Massachusetts, 29% of households have at least one dog. (2) Dogs are also the favorite pet of McSweeney […]