IINC Advises Parents and Students to Protect Valuables from Theft

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The leading crime on college campuses is theft, and high-tech electronics and identity are prime targets.   
   
In 2008, nearly 17,000 thefts were reported on California’s UC and CSU campuses according to the Federal Bureau of Investigation’s Uniform Crime Report.
  
“Laptops and MP3 players are small, costly items common on college campuses that are easily snapped up,” said Candysse Miller, executive director of the Insurance Information Network of California.  “While insurance may not help retrieve lost data from a stolen computer, it helps recoup the tools needed to complete classes.”
   
IINC provides the following advice for parents and students preparing for college:

• Belongings – such as dorm supplies – are covered to 10 percent of the personal property coverage of parents’ homeowners or renters insurance policy. For high-value items such as computers that can be moved from a home, consider purchasing a “floater.”  In some cases a separate policy may be preferred for these items.

• Those living off-campus will not be covered by their parents’ policies. Renters insurance is typically inexpensive – approximately $25 per month – and will provide coverage for belongings in off-campus housing. 

• If a child takes a parents’ car to school, typically it is covered by the existing auto insurance. However, you should notify the insurer that the car will be located elsewhere.  If they take their own car, they will need their own policy.


Students should also guard against identity theft.  An unprotected computer potentially leaves important credit, banking and other personal information exposed to hackers.  Protect computers with passwords and install spyware and firewall software to limit access.

For some, identity theft insurance might be an option. These policies typically cover expenses incurred while restoring credit or identity such as faxing and certified mailing costs; lost time from work to meet with law enforcement or credit agencies; and fees charged when reapplying for loans.  Identity theft insurance can be added to an existing homeowner or renter insurance policy for about $125 per year.
   
IINC is a non-profit and non-lobbying trade association dedicated to helping the public understand insurance and manage risk. For more information, please visit www.iinc.org.  IINC is also on Twitter at http://www.twitter.com/iinc and on Facebook at http://companies.to/iinc.    

ADDITIONAL RESOURCES
Federal Bureau of Investigation Uniform Crime Report