Summer is winding down, and now it is time to start preparing for another long semester your daughter or son will endure at college. Between class, school work, a job, and a social life, it is the unfortunate truth that mistakes happen. These can take many forms, but the one we are speaking of is related to personal items being stolen, damaged, or lost.
Any parent of a college student can picture it in their heads. It is move in day and the car is packed to the brim. Somehow you have managed to fit your young adult’s entire life into one car, truly amazing. However, as time progresses, these personal day to day items are becoming more valuable. What used to be dozens of books is now an expensive laptop or kindle. The same holds true with cell phones, iPods, etc. It is these valuable and cherished items that are at risk when your young adult goes to school. It is important to know you may be protected from hazards such as leaving belongings unattended in the library or having unintended water damage.
You are in luck if such incidences are the case. A parent’s Homeowners’ insurance policy does provide some coverage for a student who is away at school. A student is classified as; “enrolled in school full time, as defined by the school, who was a resident of your household before moving out to attend school, provided the student is under the age of 24 and your relative; or 21 and in your care or the care of your residents of your household who are relatives.” If your son or daughter fits the guidelines briefly explained above then there are three coverages that are extended under a Homeowners’ policy:
- Coverage C – Personal Property. This provides coverage for personal property owned or used by an insured while it is outside of the home. However, the limit of insurance is 10% of the Coverage C limit for personal property in the Homeowners’ policy, or $1,000, whichever is greater. It should be noted that coverage for broken or stolen goods does not apply if the student’s dorm has been unoccupied for more than 60 consecutive days.
- Coverage E – Personal Liability. This covers the student for legal defense costs or coverage from an accident (excluding auto, boat or aircraft) that causes bodily injury or property damage.
- Coverage F – Medical Payments. This provides for the medical expenses of others because of bodily injury occurring at the student’s dwelling.
Here at AllKane Insurance we understand there are a lot of moving parts in regards to your policy. There may be features that you are, or are not, aware of and we would love to help you. We work hard for you and we look forward to speaking with you in the near future. Give us a call at (203).329.9100 and we will help get your questions answered.