Dorm Rooms and Homeowners Insurance
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August 28, 2006 | By: 
Comments (2)Students heading off to college this year are taking more stuff with them than ever before: computers, cell phones, MP3 players, bicycles, clothing, sports equipment, and most likely a car. Interestingly, the campuses where they're heading may pose an unusually high rate of theft. It’s normal though, as theft affects an estimated 1 in 10 college students. Given this, how do you protect your investment?
First, do an inventory to find out just how much money is tied up in that dorm room. Then talk to your insurance representative to find out what possessions are covered, including those that are not, under your existing policies.
Students in dormitories are generally covered by their parents' homeowners insurance policies, but there may be coverage limits for items stored away from home. Find out what your limits are, and if the value of the belonging exceeds the limit, consider purchasing policy riders (additional pieces of coverage for specific valuable items). Students who live off-campus are not always covered by homeowners insurance policies, and may need renters insurance instead to adequately to protect against loss.
InsWeb Homeowners Insurance Center: http://www.insweb.com/learningcenter/home-default.htm
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Comments (2)
Joseph
August 30, 2006 14:49
It doesn't cost that much to make sure that all your valuables are insured when living in college dorms. As a freshman my dorm room was broken into and my laptop and CD cases were stolen. All in all about $3,000 dollars worth of my possessions were stolen. Fortunately, my parents had the wherewithal to list many of my more expensive possessions onto their homeowner’s policy before I left for college. I was quickly issued a check from the insurance company to purchase items to replace the stolen ones. The sad part is that I had to completely rebuild my CD collection….and it is still not at the point it was.
I think my parents said it only ended up costing them about $20-40 a year to insure my items while I was in the dorms....an expense well worth paying for.
Jackson
August 28, 2006 09:21
I lived in the dorms at Virginia and what you really need isnt insurance but more like flip flops for the shower!!!!!!!!!! and asprin for Sunday morning