IPS / Lighthouse Insurance Group Blog: student housing
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FRIDAY, AUGUST 15, 2014
It won't be long before students return to college once again!
Did you ever stop to think about what happens to your belongings that you take with you to college in the event of loss caused by theft, vandalism, fire or any number of causes? Are your things insured or will the cost of your loss simply need to be paid out of pocket? The answer is: "It depends!"
Most often, the parents' homeowner policy will extend to cover the student's property as long as the student resides ON CAMPUS - in a dorm, for example. If you have a son or daughter heading off to school, you will want to read your policy or check with your insurance agent to be sure, and to understand how your particular insurance company would respond to this type of loss.
Now days, it is common for a student to join with others and rent a house, apartment or condominium that is located OFF CAMPUS. When this happens, one thing is for certain...the parents' homeowner policy will not provide insurance for the student's belongings! It is important to purchase a renter's insurance policy to provide insurance for the student's property AND to give liability protection.
Take a couple minutes to view this video and see why Justin recommends renter's insurance.
Call us at 800-220-5582 or contact us online if you have questions about renter's insurance. You will be amazed at how little good protection can cost!
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