Accidents happen, so it’s important that students have personal property protection to cover their valuable possessions in the event of damage or loss. Whether students live in a residence hall or off-campus, their personal possessions are not, in most cases, covered by university or rental property insurance policies.
“Parents should inquire of their homeowner insurance agent whether the student’s personal property at college is covered by the homeowner’s policy,” advises Kate Rychlinski, assistant director of Risk Management Services for U-M. “If not, sometimes a rider, or addendum, to the homeowner policy will provide appropriate coverage.”
If the parent’s homeowner policy does not cover the student’s personal property outside of the insured home, another approach is a renter’s insurance policy. Renter’s insurance has the same purpose as homeowner’s insurance. It can provide reimbursement for losses (sometimes minus a deductible) if personal property in a residence hall or off-campus housing is lost, stolen or damaged. It may cover injuries to guests and/or visitors at off-campus rental properties.
It is important to understand the specific terms and costs of any insurance policy before signing. Not all insurance policies cover the same losses, so make sure you know specifically what is covered in the policy that you are considering. Ask your property insurance agent or carrier for guidance.
University Housing also recommends:
- Students should make an inventory of their valuable personal items and credits cards so that in the event of loss, theft or damage, they have the information to file an insurance claim or work with the police. We even offer a Personal Property Inventory form to help.
- Engrave a name or identifying mark on expensive items and valuables to deter theft.
- Secure cash and valuables out of sight in your room or apartment.
- Keep your room or apartment secure – lock your door and windows when it is not occupied.
More tips about insurance and property security can be found on the Housing website.