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Don't Say Goodbye Until You Read This

Your child graduated from high school and you couldn’t be more proud, but now stars the summer of planning for your new grad’s first semester in college. You’ve planned orientation visits, packed up childhood rooms, and maybe even helped your child pick their courses. But don’t forget one of the most important things to think about – insurance.
Sure you may think that college quarters are such small spaces and there isn’t much to protect – especially if the space is furnished. However, think about the smaller more valuable items your student will store in their living spaces every day: laptops, tablets, smart phones, and other valuable electronics. Not to mention the new valuables they may be keeping around: textbooks, mini fridges, microwaves, and other large furnishings. All of these things could be very expensive to replace should someone break in and take them, or a storm damage the facility. You may not be able to protect them from these unfortunate occurrences, but you can help lessen the effects by making sure their possessions are adequately covered.Your existing homeowners policy should extend some personal property coverage to your student.

To make it easy to take advantage of this coverage in the event of a covered incident, be sure to:

  • Create an inventory of what your student is taking before he heads off to college and what it’s all worth. Include receipts, photos, serial numbers and as much other information about the items as you can.
  • Itemize any items worth more than $1,000 since, in most cases, there is a cap on how much coverage particular items or types of items receive under your policy. Itemizing the valuables offers broader coverage and also broadens the coverage territory to anywhere in the world.

Let Us Help You

Take a look at your current homeowners insurance policy to see if your freshman’s items are covered while he or she lives in a dorm on campus. If, however, your new college student is opting to live in an off-campus apartment their valuables may not be covered. In this case, renter’s insurance may need to be purchased to ensure adequate coverage. 

We can help you determine the best way to protect your college student’s possessions. Give us a call, 806-763-7311, today to learn about your options and find the best one for your new grad.

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