The Sunday paper is full of Back to School ads so… ready or not, your young ones may soon be heading off to college.  Out of sight. Out of mind?  Certainly not.  As parents we always reserve the right to worry.  There are so many things left on the list to buy, to teach, to talk about.

Oh, wait.  What about insurance?  Is there any coverage  for the new Apple laptop, iPhone, iPad, tv, mini fridge, X Box, the back to school wardrobe, Sperry’s and Oakley’s?  The answer is yes.  And no.  If your student is living in the dorm, fraternity or sorority house, there is a good chance that their belongings are covered under your homeowners insurance policy.  If they are living in an apartment or off-campus house, your insurance coverage probably won’t extend to them.  This would be a good time to talk to your insurance agent to see what your insurance company’s guidelines are on this.  If your insurance coverage will not extend to their belongings at school, an inexpensive renters insurance policy may be just the ticket you need.

Either way, this will help eliminate a devastating loss from fire or tornado.  But let’s face it.  In college, the more likely loss is that the laptop or iPhone simply disappears in the hands of an unknown thief.  Your student will no doubt be very upset.  But is a $500 or even a $1000 loss worth turning in a theft claim when your deductible may be that high already?  Probably not.  This leads us back to the beginning:  things “to teach, to talk about”.  Theft is rampant at colleges.  Make sure your student knows this and takes precautions to protect their belongings.  Laptop locks and room safes will certainly help.  The most obvious and most abused one though is “Lock you door”!  I know.  I know.  I wasn’t good about it in college either.