Most college students bring valuable assets with them when living at school, such as computers, other electronics, furniture, and jewelry. They need insurance that protects these assets while they are at school. Your home insurance policy often covers the assets of children 26 or younger, assuming you claim them as dependents. However, several common limitations affect college students, so it’s best to confirm their status with your agent. If you live in or near Orlando, FL, contact our Insurance Warehouses of America team for answers about your home or other insurance coverage.
Home Insurance Coverage Limits for College Students
Your home insurance covers the personal belongings of dependent children against covered perils such as theft or fire and their liability if they injure someone or damage someone else’s property.
An important limitation for college students is that insurers often cover them only while living in university-controlled housing. Students who live in fraternity, sorority, or off-campus housing are generally not covered.
In addition to the university housing issue:
- Children often must be full-time students to be covered
- Some policies stop coverage of children at 24 or 25 years old
- Low claim limits are standard for jewelry and electronics
- Losses that occur "off-premises" or away from your home are often limited to 10% of your personal property limit
- Your standard deductibles apply to claims related to your children
These limitations can significantly affect your college student’s coverage, so confirm the details with your agent. Consider buying renters’ insurance to cover your student’s belongings if necessary.
Insuring with Insurance Warehouses of America
Insurance Warehouses of America, serving Orlando, FL, will help develop an insurance plan that protects your family and its assets. Visit our office or call us at (407) 982-3266 to start the review process today.
