05 Mar 2014 Insuring Your College Student While on Spring Break

For most colleges and universities in New England, spring break is right around the corner. Some students are fortunate enough to go away on vacation during this time. And while this can be a great time for students to unwind and have fun, it can also prove to be costly should they lose any of their belongings while away.

Having a college student living away from home can be stressful enough for most parents. Always wondering if they are safe, eating right and studying well. Spring Break trips often add a whole new level of worry for parents. Unfortunately, many parents forget to also consider the insurance implications of a student away at college, especially if they go away for Spring Break.

Photo credits to stock.xchng.

So before you send your student packing on a Spring Break trip to Punta Cana, take a look at these quick reminders:

• If your student lives in a dorm room, your homeowners policy will most likely cover them. Your home insurance may not cover your child if he/she lives in an off-campus apartment, however. You’ll need to check your policy to be sure of either scenario, but in the latter situation, you may need to buy a separate renters insurance policy.

• Even if your child lives on-campus, the college or university may require them to carry some form of personal property insurance to protect against theft, fire, flooding, etc. Most schools will not assume liability for your child or their belongings, so you’ll want to be sure to read the fine print.

• If your homeowners policy does provide coverage, it’s probably limited. Most policies will provide only 10% of your total personal property limit for belongings “off premises”. Many homeowners insurance policies will cover your personal property up to 70% of the value of your home — so if you have a $150,000 homeowners insurance policy, you’d have up to $105,000 in coverage for your personal stuff, and up to $10,500 in coverage for items that are off-premises, such as in a dorm room. Is that enough?

• Is your student studying abroad? Or going out of the country for Spring Break? Some insurance companies will provide worldwide coverage, but others do not. You’ll need to make sure your policy covers both property and liability, and extends oversees.

Don’t let a student away at college or on Spring Break stress you out! Give your account manager at Berry Insurance a call to review your coverages today!

*Authored by Kaitlyn Pintarich.

For more information about this topic, or to get some answers about your current insurance situation, please visit our virtual insurance agency at berryinsurance.com, stop our office in Franklin, Massachusetts or give us a call at (800) 941-3317.

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