Computers, cell phones, televisions, personal digital assistants, high-priced bicycles and other expensive and easily stolen items are common in today's dorm rooms. Fortunately, the answer may be as close as the parents' homeowners' policy. Luckily, most standard homeowners' policies extend coverage to students living away from home. Coverage is extended to students if they have been at the school residence at any time during the 45 days immediately prior to the loss, Griffin said. There is no limitation on the amount of coverage, other than the standard personal property limit already stated on the declarations page.
Any loss is also subject to the policy deductible and the other policy provisions.
However, Griffin pointed out that parents and students should be aware that certain types of property have coverage limitations. Probably the most prevalent concern is about desktop and laptop computers and here coverage varies, Griffin cautions. Things become more complicated if the student rents an off-campus house or apartment in his or her own name or with others. In that case, it may be better to purchase a separate renter's insurance policy, which resembles a homeowners policy in most respects, but without structure coverage, Griffin said. Attending college today is an expensive proposition.