Coverage for Your College Student's Stuff

My son is going off to college this fall. Will my homeowners insurance cover his stuff? He’s living in a dorm this year but will probably move to an off-campus apartment for his sophomore year.

Your homeowners insurance should cover your student’s possessions if he lives in a dorm, and it may provide coverage if he lives in an off-campus apartment, as long as his primary residence is still your home. The rules vary a lot by insurer; most require the child to be a full-time student and under age 24.

Some insurers cap the coverage at college at 10% of the possessions coverage in your homeowners policy. So if you have a $200,000 policy on your home with 50% of that amount, or $100,000, for contents, your kid’s coverage at college may be limited to $10,000. The liability limits are usually the same as they are for your home.

Subscribe to Kiplinger’s Personal Finance

Be a smarter, better informed investor.

Save up to 74%

Sign up for Kiplinger’s Free E-Newsletters

Profit and prosper with the best of expert advice on investing, taxes, retirement, personal finance and more - straight to your e-mail.

Profit and prosper with the best of expert advice - straight to your e-mail.

Sign up

If you’d like higher coverage limits (or if your insurer doesn’t cover your son’s apartment after he moves off campus), consider a renters insurance policy. Those policies generally cost just $150 to $200 per year, says Melanie Loiselle-Mongeon, an independent insurance agent in Pawtucket, R.I. If your kid has roommates (who aren’t related to each other), each person needs to get a separate renters policy. Many college kids don’t realize how many valuable possessions they have -- say, a computer, a printer, a smart phone, an iPad and a TV, in addition to furniture and clothes. The cost of replacing them can quickly add up, so being sure you have coverage is a smart idea.