<p>Are laptops, cameras, etc. and other personal property insured when a student is living in a dorm? Is it covered under a parents homeowners policy? Can it be? Should you buy a separate personal property insurance policy?</p>
<p>Here in PA your personal property is covered under your parent’s homeowners policy - you just have to add the laptop as a rider to your policy for it to be covered.</p>
<p>We checked with our homeowner’s insurance before our son left for college. Almost everything he had was covered. The only thing he had to insure separately was his trumpet, which is worth more than his car and computer combined.</p>
<p>You should call your insurance agent with these questions, all of which relate to your property insurance coverage (getting things replaced if they are damaged, lost or stolen). Insurance policies vary and you probably need to verify your deductibles and exclusions. In addition, ask about liability coverage (insurance that pays others when you accidently make a mistake) as well as property insurance.</p>
<p>In our case, our insurance agent’s answers were somewhat surprising. Our son’s possessions are covered by our homeowner’s policy but we could significantly lower his deductible if we purchased renters’ insurance and added a rider for electronics. However, his most valuable possession - an expensive TV - wasn’t fully covered by either policy. Bottom line (we thought): Renters’ insurance might be worth it.</p>
<p>Then we asked about liability coverage. We carry the minimum on our homeowners’ insurance and have umbrella coverage that increases our limits. The umbrella covers our son even at college, so if something happens in his apartment at college (e.g., he accidently leaves the water on and floods the downstairs apartment, has a kitchen accident that starts a fire, etc.) the umbrella provides more coverage than if we purchased renters insurance with basic limits. In fact, if we purchased renters’ insurance, the umbrella would no longer cover our son’s possessions or liability at his apartment. Thus, the real bottom line (for us): Stick with the homeowners’/umbrella coverage.</p>
<p>EDIT: I realize much of this doesn’t apply to a student in the dorm, but you should still call your insurance agent so you are clear on what is and isn’t covered. In addition, some policies require riders or notification of change of address when the items are used at a different location.</p>
<p>What I’ve said before regarding car insurance also applies here:</p>
<p>You gotta check. What works with one company in one state may not work with the same company in another state.</p>
<p>The questions you should ask are:</p>
<ul>
<li><p>coverage limits for certain classes of goods, such as electronics, jewelry etc. If the limits are too low, what about a personal articles floater?</p></li>
<li><p>coverage basis: replacement cost or actual cash value? </p></li>
<li><p>location limits?</p></li>
<li><p>nature of loss limits: theft versus fire versus plain ole losing it? (and we have a floater for some stuff that does cover ANY loss! Drop that camera off a bridge? As long as it was an accident, no problem.)</p></li>
</ul>
<p>A separate personal property policy for your child allows you to collect for losses without having to file a claim on your homeowners policy. Too many claims on YOUR policy could lead your insurance company to drop you and you might have a difficult time getting a new carrier.</p>
<p>We had an interesting situation - our kiddo’s stuff was NOT covered in the dorm as our homeowners company did not write policies in that state - so we did a seperate policy for kiddo while in the dorm. (BUT - this is weird - it would be covered if it was in her car LOL)</p>
<p>When kiddo moved off campus - she got renters insurance - with a rider for computer and it was very inexpensive for good coverage.</p>
<p>Thanks to all for taking the time to post. I have determined that my homeowners policy covers D’s personal property while she is living in a dorm out of state. I also learned that our auto insurance premium will be less since she won’t have a car at school.</p>
<p>I just bought a policy for my daughter at college. I don’t know whether my homeowner’s policy covers my daughter, but I do know that there is a $500 deductible on my homeowner’s policy. The college policy I bought cost $125 for $5000 worth of coverage, and has a $50 deductible; also, the deductible will be waived for theft of the computer if the student installs free tracking software available from the insurer. So basically, if there is single item of expensive equipment stolen or damaged, I will make back the full cost of the policy with the first $175 of loss payable (this could as easily be the cost of replacing the iPod, digital camera, or cell phone). So for me, it was worth the investment. I’d note that $5000 is probably far more than we would need for coverage if we are only worrying about loss or damage to pricey electronic items – so I really probably would have been fine purchasing only $75 worth of coverage. The policy cost relates directly to the dollar amount of coverage purchased – I just figured I happened to be comfortable paying $125 for the year, so I bought whatever I could get for that sum. </p>
<p>I think its worth it just for peace of mind. I mean, it simply is one less thing to worry about.</p>
<p>Calmom, what company issued the policy you purchased and how did you find it?</p>
<p>online - <a href=“http://www.collegestudentinsurance.com/[/url]”>Filing a Claim; - it’s basically underwritten by Fireman’s Fund.</p>
<p>calmom,
Thank you so much for this link !! I just asked DH to call insurance agent to find out about the laptop and then went to this site. </p>
<p>We assumed the ipod, cameras, clothes, shoes, engineering texts ($$$$ per qtr), would just be on us if something happens but this policy will cover it all. </p>
<p>We will take photos of everything, make a list and scramble for all the receipts we can find before we leave. </p>
<p>I’ve also forwarded this to many I know who don’t come here and assume their only option is their HO policy and the big deductible.</p>
<p>We purchased dorm insurance from National Student Services Inc(<a href=“http://www.nssinc.com)%5B/url%5D”>www.nssinc.com)</a>, who were to us by UCSD’s housing office. We opted for $50 annual premium, replacement coverage with a $25 deductible. Knowing our son, we purchased the insurance for peace of mind and also hedging the bets that something was going to get stolen during the year. We decided to purchase a separate policy because we did not want to have to file a claim against our homeowner’s insurance in case something happened. As GLA mentioned, too many claims and the insurance company can drop you.</p>
<p>Well, we hedged our bets right. Our son’s bike was stolen while locked outside his dorm. We had purchased a used Trek bike so that he wouldn’t have to bring his good bike. The insurance company reimbursed us for a 2006 model Trek and new lock (even including tax). </p>
<p>I highly recommend insurance. It was worth the $50 just for peace of mind. Remember to file a police report in the event that something is stolen because you’ll need it to file the claim.</p>