Check Your Homeowners Insurance Before Sending Students To Campus

Every year thousands of students head off to college with their computers, stereos, televisions and calculators. But what if these items were stolen, damaged by fire or vandalized? Would your homeowners policy provide enough coverage to replace your student's personal possessions even if he or she is away at college?

Unfortunately many students are victims of these disasters every year. So before your child leaves home, it makes sense to check your homeowners insurance policy to ensure that everything they take with them to college is covered.

Typically, a homeowner's policy covers property away from home, up to a limit of 10 percent of the contents coverage. For example, if your home is insured for $100,000, the contents are covered for half that amount which amounts to $50,000. Therefore, the property away from home is covered for $5,000 -- minus the policy's deductible.

But even though you have coverage, you still must take into consideration whether your child lives in a dormitory or an off-campus apartment. If your child lives in a dormitory and is under 26 years old, then most of the students' personal belongings are covered. Keep in mind that high-ticket items such as jewelry require additional coverage in the form of a "personal articles floater." Computers may also need more coverage by purchasing a "rider" to protect it in campus dormitories.

However if your child is living in an off-campus apartment, your homeowners policy probably will not apply. Many insurance companies do not consider the student a part of the household any longer when he or she moves into an apartment. You may need to purchase a separate renters insurance policy which is fairly inexpensive and provides property and liability protection.

To determine if you have enough coverage for your children's personal possessions at college, you should consult your insurance agent or company representative.

The Insurance Information Network of California also offers the following tips for students on how to protect their property in their dormitory room or in their apartment:

• Always lock your door even if you go out for just a few minutes. Thieves will take any opportunity to get in your room and take something.
• Engrave all your possessions with an identification number such as your drivers license or social security number. Thieves are less prone to stealing marked items because they are difficult to sell. And if stolen, marked items will help police identify recovered property.
• Keep your cash or valuable items such as jewelry stored in a safe, which is usually provided by dormitories.
• Always close your curtains, lock your windows, and arrange your room so that the stereo and television are not on display. Don't give thieves a chance to see what you have.
• Be selective about giving out your room or telephone number or information to friends about where you keep your valuables or cash and when you won't be home. Usually criminals and victims know each other and the information is passed on inadvertently.
• Take extra precaution to safeguard your valuables during vacation as most thefts occur at this time.
• Keep an inventory of all your possessions in the event of a theft or fire. Store this list in a safe deposit box or fire proof box. An inventory will make it easier if you file a claim.

If you would like to receive more information about renters insurance or how to take an inventory of your possessions, IINC has the following brochures available entitled, "Renters Insurance" and "Taking Inventory." Please send a self-addressed stamped (52 cents) business envelope with your request to Insurance Information Network of California, 900 Wilshire Blvd. #1414, Los Angeles, CA 90017.