Theft is the most common crime on college campuses in the U.S., according to the Insurance Information Institute. The U.S. Department of Education reported more than 18,000 burglaries and thefts occurred on college campuses in 2014.
As students begin to head to college, insurance groups recommend parents take some time to make sure they have the right coverage for their students’ expensive computers, gaming systems, clothing, and other possessions before they move into that apartment or dorm room.
Russ Dubisky of the South Carolina Insurance Association said students’ personal property is a lot different than thirty years ago. “Expensive iPads, laptops, books, clothes, etc.,” Dubisky said.
While students living in dormitories will most likely have some coverage under their parents’ homeowners or renters insurance policy, it may not be enough. Many homeowner policies limit the amount of insurance for off-premises belongings to about 10 percent of the total amount of coverage for personal possessions.
Dubisky said make sure you have right coverage. “Deductibles are going to vary on the individual. What we encourage folks to do is talk to their local insurance agent,” he told South Carolina Radio Network.
If you are renting an apartment off-campus, your belongings are not protected unless you purchase renter’s insurance. These policies are relatively inexpensive, with most starting under $200 per year.