Many college students head to school with valuables that include electronics, clothing, bicycles, and jewelry, so it is comforting to know that home insurance policies generally cover the assets of children 26 or younger, assuming they are claimed as dependents. However, coverage can vary, and there are limitations for college students, so speak with your agent to confirm your coverage. If you live in or near Gahanna, OH, contact our Schneider Insurance Agency team regarding your home and other insurance needs.
Home Insurance Coverage Limits for College Students
Home insurance covers your belongings and those of your college students against covered perils, including theft and fire. It also handles their liability for some injuries or damages to others. However, some insurers do not cover those living in non-university housing, including off-campus apartments, sorority, and fraternity housing. Many insurers cover only full-time students or stop covering students who reach 24 or 25 years of age.
Besides issues of which students receive coverage, home insurance policies generally have low limits for jewelry and electronics unless you add a rider enhancing your coverage. Also, college housing that is outside your primary residence is "off-premises," which often tops out at 10% of the policy’s limit for losses that occur at home. In addition, claims on your student’s property are subject to your policy’s standard deductible.
These factors may affect whether and how much your policy will cover your college student, so speak with your agent about your specific situation. Buying renters’ insurance for your student can be an effective solution.
Insuring with the Schneider Insurance Agency
The Schneider Insurance Agency, serving Gahanna, OH, creates insurance plans to protect your family and its assets. Visit our office or call (614) 471-8444 today to begin the process.
