Its that time of year… beyond new clothes and pencils and crayons (for the younger set), if you have an older child heading off to college, you should have a good idea of what your insurance policies are and are not going to cover. The biggest question that arises is whether the student is still considered a household resident. Beyond the legalities, your homeowners and auto policies should both contain provisions applying the broadest coverages available to legal residents of your household.

Your homeowners policy will cover personal property owned or used by a household resident regardless of where it is located. But in most cases it is 10 percent of the amount shown on the policy. Take a look at the limits provided for personal property on your policy. Now, add up the value of what your student is probably going to take with them - clothes, computer, other electronics, other household items. How much would the actual replacement cost be in case of loss? Does your policy cover loss due to theft from a place other than your residence?

It is probably a good idea to consider a renter’s policy for your student. They are covered for loss of property, damages and injuries to another person’s property, and possible accidents. The cost of a policy of this type is very small compared to the benefits.

Thank you for visiting our blog and reading our latest tips on being a better Roseville Home Insurance or Rocklin Home Insurance consumer!