College students often bring valuable items with them to school, including electronics, jewelry, furniture, and more. It’s crucial to understand whether your home insurance policy covers these assets. While home insurance typically covers the assets of dependent children aged 26 or younger, there are common limitations you should be aware of. If you’re in or near Ruidoso, NM, our team at Family Insurance Associates can provide answers about your home or other insurance coverage.
Home Insurance Coverage Limits for College Students
Home insurance usually covers your dependent children’s personal belongings against fire, theft, or other covered perils, as well as their liability for injuring someone or damaging someone else’s property.
However, there are key considerations for college students. Insurers often only cover students living in university-controlled housing, not those in sorority, fraternity, or off-campus housing. Other limitations include:
- Policies often only cover full-time students, and many stop covering children once they reach 24 or 25 years old.
- Many household belongings like jewelry, electronics, and bicycles often have low claim limits.
- Losses occurring at "off-premises" locations are often capped at 10% of your personal property limit.
- Your policy’s standard deductibles apply to all student-related claims.
These potential limitations can significantly affect your college student’s coverage, so confirming the details with your agent is important. You can also consider purchasing renters’ insurance to cover their belongings, which is similar to your home policy.
Insuring with Family Insurance Associates
Family Insurance Associates, serving Ruidoso, NM, can help you develop an insurance plan that meets your family’s needs. Visit our office or call us today at (575) 357-0998 to protect your family and possessions.
