Kids in college? Check your insurance policy

Kids in college? Check your insurance policy

University of Iowa student Angie Platt, 20, is seen on campus in Iowa City, Iowa, Monday, July 1, 2013 . College students taking out new loans for the fall term will see interest rates twice what they were in the spring — unless Congress fulfills its pledge to restore lower rates when it returns after the July 4 holiday. Platt said the increase in interest rates for subsidized Stafford loans will add to her debt load, which is expected to top $60,000 by the time she graduates. (AP Photo/Ryan J. Foley)

There's a lot to think about when your son or daughter heads off to college.

Have you checked to make sure you have enough insurance to cover all the things your student has at school - including the computer, TV, music system, expensive sports equipment, and furniture?

Your homeowners or renters policy does cover your child's possessions when they're at school. But, as Karl Newman at the Northwest Insurance Council reminds us, it may not cover everything.

"Items of high value, like jewelry, have a limit in the policy. You may want to encourage your student to leave that kind of thing at home. Or be sure that you have what's called a floater or endorsement on the policy to provide extra protection for those things of high value," says Newman.

Students who live off-campus may not be covered by their parent's policy. Better find out.

It's important to have an inventory of all the things your child takes to school in case there's a fire or burglary.

If your son or daughter is more than 100 miles away and not driving a family car at school, you may be able to get a discount on your auto insurance.


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