Is your daughter heading off to college? If so, she’ll probably arrive on campus with a trunkful of pricey electronics including a laptop, tablet, smartphone, flat-screen TV and gaming console. But what happens if any or all of this stuff gets lost, damaged or stolen?
You will need to verify coverage with your insurer, but in general your homeowners policy should cover your child’s possessions as long as she is living on campus in a dorm. Liability coverage should extend to the dorm, too. Keep in mind, however, that coverage limits might be lower than they would be at home. Many insurers sell extra electronics coverage to boost limits. Ask your agent.
Living off-campus is another story. If your young scholar is sharing an apartment with friends, she should buy renters insurance. Policies are usually inexpensive – typically around $240 a year. Renters insurance will only cover her and her stuff, so her roommates will need their own separate policies.
From just $107.88 $24.99 for Kiplinger Personal Finance
Become a smarter, better informed investor. Subscribe from just $107.88 $24.99, plus get up to 4 Special Issues
Sign up for Kiplinger’s Free Newsletters
Profit and prosper with the best of expert advice on investing, taxes, retirement, personal finance and more - straight to your e-mail.
Profit and prosper with the best of expert advice - straight to your e-mail.
Read more about when college students need insurance.
-
The Stoic Retirement: Ancient Wisdom for Today's RealityA "Stoic retirement" doesn't mean depriving yourself. It's a character-based approach to life and aging that can bring calm and clarity.
-
My Teen Crashed His Car and Now Our Insurance Has Tripled. What Now?Dealing with the costly aftermath of a teen car accident is stressful. Here are your options for navigating it.
-
11 Outrageous Ways To Spend Money in RetirementWhether you have excess cash to spend or want to pretend, here’s a look at 11 ridiculous ways retirees can splurge.
-
How Big Should My Emergency Fund Be?Feature NFL linebacker and Kiplinger contributing editor Brandon Copeland discusses the importance of building an emergency fund.
-
Homeowners Insurance: How to Protect Your HomeBrandon Copeland NFL linebacker and Kiplinger contributing editor Brandon Copeland discusses the ins and outs of homeowners insurance.
-
The "Real" Cost of Buying a CarFeature Atlanta Falcons linebacker and Kiplinger contributing editor Brandon Copeland illustrates how car prices are far more than meets the eye.
-
How to Plan a Budget-Friendly Family VacationBrandon Copeland Atlanta Falcons linebacker and Kiplinger contributing editor Brandon Copeland provides tips on how to go on vacation without breaking the bank.
-
The Great Resignation: How to Quit Your Job With ConfidenceBrandon Copeland Atlanta Falcons linebacker and Kiplinger contributing editor Brandon Copeland provides tips on how to properly quit your job and upgrade your career.
-
How to Achieve Your 2022 New Year's ResolutionsBrandon Copeland You've already made your New Year's resolutions. Atlanta Falcons linebacker and Kiplinger contributing editor Brandon Copeland explains how you can stick with them and accomplish them.
-
Santa's End-of-the-Year Finance TipsFeature Atlanta Falcons linebacker and Kiplinger contributing editor Brandon Copeland shares a few ways you can improve your finances before 2022 gets here.
-
Planning Your Child's Financial FutureFeature Atlanta Falcons linebacker and Kiplinger contributing editor Brandon Copeland talks about ways to set your child up with a strong financial foundation.
