It’s that time of year! Kids are graduating from high school with plans to attend college in the fall. As they head off on their own, make sure they have enough insurance to adequately cover all the items they will be taking with them to their dorm room. The first thing to consider is the value of all of the items they are taking. Generally your home policy will extend to cover these belongings but it will be subject to your deductible. If you have a high deductible, as most people do, you may want to consider purchasing a renters policy. You can set up a renters policy to cover all of their belongings with a much lower deductible than you have on your home policy and the cost is fairly small. Usually the cost of these policies are around $150 a year, less than $15 a month.
If you allow coverage to extend off of your home policy, make sure to consult your insurance agent. Some policies have a limitation on theft if belongings are left unattended for an extended period of time.
Teenagers leaving to attend college will bring about many changes to our families. Make sure insurance isn’t one more thing for you to worry about!