What Every Dad Needs to Know About Home Insurance and His College Student

Sending your kids off to college is a big step. Sending your kids off to college with a $1,600 computer, a $500 MP3 player and a $300 cell phone is an even bigger one! Today’s college kids are hooked up to the max when it comes to their electronics and other belongings, and you better believe they’re not leaving home without them. The good news is, they might still be covered under your home insurance policy.

Think of a college dorm as an extension of your car. Your kids’ belongings, everything from the Sesame Street sing-a-long to the Nintendo DS, were covered in your car because they were still living at home. The car was a temporary thing. Even though they’re going to be living in the dorm room for most of the year it’s still technically considered to be a temporary thing, and your home insurance is still going to have them covered.

With theft being the single most commonly committed crime on just about any college campus, this could turn out to be a blessing not-very-well-hidden-in-disguise.

While you’re kicking back, popping up your feet and sighing in relief, however, make sure you pick up the phone and call your home insurance company. Insuring things they’re going to be taking to college with them is just slightly different than picking up home insurance for your house. Many homeowners insurance companies will put lower replacement limits on all things college bound, since they’re more likely to be stolen. You also may have to bump up your premiums-but let’s not get carried away. Your insurance agent will be able to give you all of the details.

Two quick words of warning:

1) Bicycles. Whether your teen is going to be taking a car with them on campus or not, one of the easiest ways to get around a college-metro area is using the power of your own two wheels. Bikes are great when traffic is bad, gas prices are up or you just want to travel a mile or two down the road without having to worry about finding parking. (If you’re in an urban college area that’s a perfectly legitimate concern!)

The thing is, bikes are great fodder for theft. So before you send your teen off to college make sure you pick up a heavy duty bike lock and teach them how to use it. You also may want to register the bike’s make, model and serial number with local police, just in case. Your home insurance will usually cover your teen’s bike, but they’re not going to be happy about paying out a home insurance claim if it’s stolen-and you don’t want to watch your rates skyrocket just because of a bike.

2) Heirlooms. If it’s irreplaceable, don’t bring it. Seriously. Family heirlooms and one of a kind items are poor additions to a college dorm room. Leave it safe at home. If they have to bring it with them for one reason or another, take the time to pick up a safety deposit box nearby and make sure you let your insurer know where its new home is going to be.

You’ve got enough on your plate when you’ve got a kid going off to college. You don’t need to add worrying about how you’re going to replace their laptop if it gets ripped off to the list! Let your home insurance agent know what your teen will be taking with them to college and what they’re leaving home, make sure their name and/or some form of identification is on just about everything of value they own (even a name in permanent marker can make an MP3 player harder to sell and easier to find) and pick up the Hulk Hogan version of a bike lock.

Then sit back, take a deep breath and wait for that first load of laundry

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