College students take valuable assets to school, including electronics, furniture, jewelry, and other items, so it is essential to understand whether and how your home insurance protects those assets. Generally, home insurance policies cover children’s assets if you claim them as dependents and they are 26 or younger. However, significant limitations exist that you should know before they leave for school. Contact our Larry Burkman Agency team, serving Huntsville, AL, if you need answers concerning your home or other insurance coverage.
Home Insurance Coverage Limits for College Students
Home insurance typically covers your dependent children’s personal belongings for theft, fire, or other covered perils, as well as their liability for injuring someone or damaging the property of others.
A key consideration is that many insurers do not cover students in fraternity, sorority, or off-campus housing. Many only cover university-controlled housing, so talk to your agent in advance.
In addition to the university-controlled housing issue:
- Coverage generally applies only to full-time students.
- Some insurers stop their coverage when your child reaches 24 or 25 years old.
- Belongings like jewelry, bicycles, and electronics often have low claim limits.
- Every claim is subject to your policy’s standard deductibles.
- The loss of belongings at "off-premises" locations is commonly capped at 10% of your personal property limit.
Talk with your agent to confirm how your policy handles your college student’s property so you can adjust your housing or insurance decisions as needed. Many college students buy affordable renters insurance that covers their belongings, much like their parent’s home policy.
Insuring with Larry Burkman Agency
Larry Burkman Agency, serving Huntsville, AL, will help develop an insurance plan that meets your family’s needs. Visit our office or call us today at 256-830-1123 to protect your family and possessions.
