The beach parties, summer vacations and sleeping-in is officially over. Summer tans are fading away as your college student(s) heads back to school. They have packed their boxes, bought a new laptop (or tablet), purchased a new flat screen television and loaded up all their school supplies. The last thing they are thinking about is protecting their stuff from a fire, theft or careless accident. But someone should be thinking about it, and that person should be you.
First you’ll want to ask yourself, is your child living on or off campus? If they are living on campus, most homeowner’s insurance or renter’s policies extend to kids living on campus. So if something were to happen in their dorm – like a fire, or a theft, your homeowners or renter’s policy should cover the losses. As always, check with your agent to confirm your coverage and whether it extends to your child living on campus.
However, if they live off campus it’s a different story. If your student is renting a condo, house or apartment (not in relation to lodging provided as part of the student’s tuition), then their expensive and important belongings are unprotected. And if you’re wondering whether they really need to protect those belongings, then imagine this:
Your student has all kinds of electronics in their rented home. An apple TV, smartwatch, laptop, desktop, smartphone, a printer, brand new TV, stereo, etc. Not only do they have electronics, but brand new furniture, musical instruments, sporting equipment and even precious and expensive jewelry, not to mention text books. They decide to throw a house party, inviting their closest friends who in turn invite their friends and eventually it gets out of control – careless mistakes start to happen. Someone accidentally starts a fire and it burns the entire home to the ground. A “friend of a friend” sees where you live and breaks in to steal most of your electronics. A tornado hits the ground and destroys everything in it’s path. Now, shouldn’t you consider renter’s insurance?
Here’s something that may seal the deal. Naturally, coverage limits will vary, depending on what exactly you’re protecting. But thankfully, unlike your typical homeowners insurance policy, renters insurance is a small price to pay. We aren’t joking! It’s your typical weekly coffee splurge or “out to eat” budget. With renter’s insurance also covering liability, along with temporary living expenses in case of serious damage, you’re looking at a minor output that gives major protection. It’s a cheap peace of mind! Isn’t this worth considering?
The time is now, before new friendships are formed, the parties start, and the carelessness takes over. Less worries and more focus will be had by all. Get a list together of your child’s belongings and contact a Bankers agent to review our renters insurance policy today! Let us ease your worries and protect what’s important to your family.