Friday, July 29, 2016

Remember to Insure your College Student Before the School Year Begins

By: Edward L. Blais, JD, CIC

The college school year is just around the corner, which means there is a lot on your to-do list to help prepare your child for success. In addition to purchasing the necessities such as clothing and books, don’t forget to do the most important task: insuring all of their belongings.

College students own a long list of expensive items – computers, printers, iPods, TVs, etc.  The overall value of all their items can add up pretty quickly. But living in a dorm or university community allows for ample opportunities for theft or damage. According to a survey conducted by the Independent Insurance Agents of America, Inc., (IIAA) more than 100,000 property crimes on college campuses are reported to police each year, and thieves steal an average of $1,250 in student property per theft.

At Blais Insurance, we want to inform you of two insurance options available to you to protect your student for the upcoming school year:

1.  Utilize Your Homeowners Policy: If your child lives in a dorm or other college-owned property, their possessions may be covered against loss, theft, and damage under your homeowners policy.
2.  Renters Insurance: If your child does not live in college-owned housing, your homeowner’s policy may not provide coverage. Fortunately, however, there is the inexpensive option to purchase a renter’s insurance policy to cover his or her belongings.  Similar to homeowners insurance, these types of policies are available in two basic forms:   a renters policy can provide the student with valuable coverage for the tools necessary for their academic success.  And much like a homeowners policy, many endorsements are available to particularize the coverage that your student may actually require.

Protecting what matters most to you is our biggest priority at Blais Insurance, and we know that the safety of your children is your number one concern. Before your child settles into their college residence, call us at 769-9500 to discuss your options.