HO insurance goes to school

More transparent credit cards,
but problems persist

The Insurance Information Institute (III) says the personal possessions of students who live on campus typically are covered under their parents' homeowners or renters insurance policies -- with certain limitations.

by Broderick Perkins
© 2010 DeadlineNews.Com


Unauthorized use of this story is a copyright violation -- a federal crime


Deadline Newsroom - When your kid goes off to college, he or she can leave under the protective umbrella of your homeowners insurance policy -- if you properly open the canopy.

The Insurance Information Institute (III) says the personal possessions of students who live on campus typically are covered under their parents' homeowners or renters insurance policies.

Some policies, however, limit the amount of coverage to 10 percent of the total amount of coverage for personal possessions taken to college.

For example, if Mom and Pop have $100,000 worth of homeowners insurance for their belongings, only $10,000 would be applicable for dorm stuff.

All insurers don't impose limits, but check with your insurance company to be sure.

"With electronics and expensive sports equipment showing up on campuses around the country, many college students may be bringing thousands of dollars worth of personal possessions with them to college," said Jeanne M. Salvatore, senior vice president and consumer spokesperson for III.

"And with the cost of tuition rising, the last thing students or their parents want to do is to have to pay to replace costly items due to theft, fire or another disaster," Salvatore added.

Erate.com has the full story here: "HO insurance goes to school"


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Broderick Perkins, an award-winning consumer journalist, parlayed 30 years of old-school journalism into a digital real estate news service, the San Jose, CA-based DeadlineNews Group, including DeadlineNews.Com, a real estate news and consulting service and Web site, and the Deadline Newsroom, DeadlineNews.Com's news back shop.

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