So your scholar is headed full speed ahead towards college – diploma in hand.  Long gone are the days where all they needed to stock up for class was a couple notebooks and pencils. Today, your scholar will need to be dressed to the tee with the latest and greatest tech – including a laptop, tablet, phone, calculator, and a printer, just to name a few…. Quite the investment. With all these substantial investments, we’d like to make sure they’re adequately protected; whether it be ensuring our children’s bright future or ensuring the tools necessary to help them achieve those dreams.

Protect The Tech

On-Campus:  The belongings of college students living in a dorm-setting will usually be covered under a homeowner’s insurance policy.

Off-Campus: Full-timers living off-campus may also be covered if their primary residence is still listed as their parent’s home. Depending on the insurer, several other qualifications might be in place and they usually set an age limit of 24.

While your homeowner’s insurance may come in handy, it may not sufficiently cover the entirety of your student’s valuables in addition to the items in your home. Therefore, many parents are now considering purchasing additional coverage to ensure all the bases are covered. If this sounds like a good deal for your family, renter’s insurance may be the best option. This usually costs as little as $150/year and can cover enough to put your mind at ease.

In addition, keeping the car fully covered may turn out to be a blessing. Though auto rates can rise and fall depending on geographical location and distance from home, it can come in handy. However, if your child decides to go to school without taking a car, parents may want to contact their agent to see what cuts in rate they could receive.

Securing Their Identity

Another oversight can often be identity protection. While coverage is generally limited, and cannot ultimately stop you or your student from becoming a target, it does cover the cost of reclaiming your financial identity. Check to see if your homeowner’s policy includes identity theft while the student is away. If they’re renting an apartment, inquire as to whether or not their renter’s insurance covers identity theft, or if it could be added to the policy.