Dorm Insurance for your College Student

by Nick Thalhammer

It’s time to move your kid to college. Congrats Mom and Dad! You’ve chosen the college, collected supplies from stores and around your home… now look around at all that stuff! One thing college students have plenty of – is stuff! Protecting your personal property by purchasing dorm insurance (aka renters insurance) – will help everyone feel a bit more comfortable.

We think of your student’s dorm like a small apartment…

Their possessions include – gaming systems, computers, tablets, smartphones, graphing calculators, skateboards, bicycles, televisions, and yes – futons.

Are your kid’s belongings face greater risk than you’re comfortable with? What is the cost of replacing the valuables? Do you need a floater package to cover your more expensive valuables? Here are some insurance options to consider.

Renters Insurance

Renters Insurance will be necessary if your child lives in an apartment off-campus. Your homeowners insurance won’t extend there. Premiums vary based on the amount of coverage needed. Living off-campus is a very popular choice for students. The good news is that Renters Insurance is affordable. Renters policies cover only your possessions, not the structure. This makes the deductibles low as well.

Home Owners Insurance

Your homeowners insurance policy may cover your child’s possessions while they’re living in an on-campus dorm at no extra cost. There are limits with this option, plus claim deductibles are often not your friend. Going this route means also that any claim made for the dorm room will go on the homeowners policy. Multiple claims can raise your rates and can stay on your record for several years.

Our recommendation is to NOT use your Homeowners Insurance. Here’s why: Save your homeowners insurance for bigger claims… Claims involving damage to the structure and contents. Dorm Insurance is ideal for smaller losses like a stolen computer.

Dorm Insurance

A dorm insurance policy may be your best option, because deductibles are as low as $25. A $5,000 policy with a $25 deductible might cost $140 per year.

Car Insurance

Is your child taking a car, or walking around campus? Ask us about a part-time drivers discount.

Campus Crime

Campus surveys verify that about half of the on-campus incidents took place in the dorm halls. Student ID cards are needed to enter these areas. Size up the level of maturity and responsibility your child. Is she too trusting of people or street smart? Careless with belongings or mindful of their value? An easy mark or a hard target?

Getting Started

We recommend that you create a detailed list of all the items in a child’s dorm room. Determine their estimated value. Your insurance agent will want this inventory list. We take property value and risk in mind when determining campus and off-campus insurance options.

Because Cincinnatus Insurance is an independent insurance agency – we can compare rates. It’s not about “selling” you insurance coverage. It’s important that you have the best coverage at a price that makes sense for you and the student. We’re here to provide great dorm insurance advise… so contact your Cincinnatus Insurance advisor today.