Business Auto

College StudentHeading off to college for the first time should be an exciting and rewarding experience. However, it could quickly become a nightmare if a fire or theft in your college dorms deprives you of your personal possessions. If you’re moving far from home, the likelihood is that you will have most of your worldly possessions with you. Your laptop, your clothes, your cell phone; these things add up, and the cost of replacing them could simply be out of your reach. Check that you’re insured before you leave home, and you could be saved a great deal of heartache.

Are You Already Covered?

There is a decent chance that if you’re staying on campus in official college dorms, your parents’ home insurance will cover the cost of losing your personal possessions to fire, theft and a number of named perils. The Insurance Information Institute recently stated that the average student’s possessions are covered by standard home or renter’s insurance policies. However, this should not be taken for granted, and you or your parents should seek advice from your insurance agent to be sure.

Is Existing Home Insurance Enough?

Before you head off to college for the first time, take an inventory of your possessions, and calculate the total cost of replacing them. According to the Insurance Information Institute, many policies will limit coverage for items stored in college dorms to only 10 percent of the total policy coverage for personal possessions - and that may not be enough. Unfortunately, there are often limits to coverage for expensive equipment such as state-of-the-art laptops, so you may need to consider purchasing ‘floaters’ for individual items or standalone policies.

Is Renter’s Insurance Necessary

A significant advantage of purchasing Georgia renters insurance for your time at college is that it includes liability insurance. So, if you were found to be the cause of a fire that spread to other dorms, the damage caused would be covered. Renter’s insurance would also provide you with far higher coverage limits than simply using your parents’ home or renter’s insurance.

If you’re about to embark on a journey of study and enlightenment, the last thing you need to be worrying about is protecting your personal possessions. Some insurance providers offer dorm insurance designed specifically for college students living on campus, and knowing that such a policy protects your possessions can give you the peace of mind that is conducive to effective study. Call Peachstate Insurance today at 877-997-2478, and one of our experienced insurance agents will talk you through your options.

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