Courtesy of iii.org
With burglary accounting for about 50 percent of all crimes on campus, according to the National Center for Education Statistics, it is more important than ever for students and their parents to review their insurance coverage.
For students living in a dormitory, most personal belongings are covered by the parents' homeowners or tenant insurance. Some home insurances may, however, limit the insurance amount for off-premises belongings to only 10 percent of the total amount of coverage for personal belongings. This means that if the parents have insurance worth $ 70,000 for their belongings, only $ 7,000 would be applicable to belongings in the dormitory. Not all insurers set this type of limit, so contact your insurer.
Expensive computer and electronic equipment, sports equipment and items such as jewelery may also be covered by coverage limits under a standard homeowner policy. If the limits are too low, a special personal floater or an approval can be purchased to cover these items. There are also stand-alone insurances for computers and mobile phones.
Students and / or their parents may also consider purchasing a stand-alone insurance policy specifically designed for students living away from college. This can be an economical way to provide additional insurance coverage for various disasters.
Students living off campus are unlikely to be covered by their parents' homeowners policy and may need to purchase their own tenants. insurance policy. Your insurance specialist can tell you if your homeowner or lease policy covers off-campus living situations.
For students attending college, I.I.I. recommends the following:
- Leave valuables at home if possible
Although it may be necessary to bring a computer or sports equipment to campus, other expensive items, such as valuable jewelry, luxury watches or expensive electronics, should be left or stored in a room safes.
- Creating a "Student Room Inventory"
Before leaving home, students should make a detailed inventory of all the items they bring with them and revise it each year. Having an up-to-date inventory helps to resolve insurance claims more quickly in the event of theft, fire or other types of disasters.
- Engraving electronics
Engraving electronic objects such as computers, televisions and mobile devices, e.g. your smartphone, with your name or other identifying information that can help the police track down the stolen items.
III offers the following advice to protect you from theft of your personal belongings on campus:
- Always lock the door to the dorm and keep your keys with you at all times, even if you leave for a short time. And, not just at night ̵
- Do not leave belongings unattended on campus. Whether you are in class, the library, the dining room or other public spaces, always carry book bags, wallets and laptops with you. These are the primary areas where property theft occurs.
- Buy a security cable for a laptop and use it. A combination lock that needs decoding may be enough to deter a thief.
- Most campus fires are cooking related, so be careful about the types of hotplates or microwaves you bring to school and how you use them.
If a student plans to have a car on campus, choose a safe, reliable vehicle and shop a bit to find the best car insurance rate. You should also check with your own insurance company as it may offer a multi-policy discount. If you decide to keep your student's car at home, be sure to notify your car insurance company, as many insurance companies will provide discounts for students living at a school at least 100 miles from home.