College-age children are at a unique stage of life, as they’re still part of the family but starting to make their own way in the world. This stage affects many areas of life, including insurance. If you have a son or daughter attending college, they might need their own insurance. Whether your homeowners insurance policy will cover them depends on the policy’s terms and conditions, and their situation at school. Here’s a general guide to how many New Hampshire homeowners policies treat this type of situation.
Will My Child at College Be Covered by My New Hampshire Homeowners Insurance Policy?
Living On Campus: Probably Covered
If your child is living on campus, your homeowners policy will likely cover them regardless of whether the school is in New Hampshire or another state. If their belongings are stolen from a dorm room, the lost items may be covered. The policy might also help pay legal fees if your child is named in a covered liability lawsuit.
To make sure their belongings are covered while on campus, ask a knowledgeable insurance agent to check what type of personal property coverage the policy provides. “Worldwide coverage” usually means that belongings remain covered in most areas of the world (war zones and similar areas are still sometimes excluded). Policies that don’t offer worldwide coverage may only cover items that are on your property -- and not those that are in a dorm room.
If your policy doesn’t provide worldwide coverage or a similar protection that’s adequate, an independent insurance agent can help you either make adjustments to the policy or find a different one that better suits your and your child’s needs.
Living Off Campus: Probably Not Covered
Most home insurance policies don’t extend coverage to students who live off campus. Therefore, be prepared to help your child find their own insurance policy if they move into an off-campus fraternity house, sorority house or apartment.
In most cases, students who live off campus need a renters insurance policy. Policies normally don’t cost a lot, and it’s usually best to get your child their own policy rather than have them get one that also covers their roommates.
Insurance agents who are familiar with homeowners insurance normally also help residents with renters policies.
Computer and Other Valuables: Possibly Covered
Regardless of where your student is living while at college, you should review whatever policy is providing coverage to make sure it offers adequate protection for your child’s computer and other valuables.
Many home insurance and renters insurance policies limit how much personal property protection they offer for valuables. Policies frequently have item-specific limits for firearms, jewelry, silverware, cash and other expensive items. One of the other categories that frequently has a specific limit is computers and electronics.
An insurance agent can help you check for any computer- or electronic-specific personal property limits that might impact how well protected your child’s computer and other electronic gear is covered. If there’s a limit in place and it’s lower than the value of their electronics, you should probably increase this limit. You might raise it by opting for additional coverage, purchasing a computer-specific endorsement or getting a different policy altogether.
Get Help Checking Your New Hampshire Homeowners Insurance
For help checking your homeowners insurance policy, contact the experienced and independent agents at HPM Insurance. Our team has the expertise needed to check whether your policy will adequately cover your child while they’re at school, and our agents are able to help you compare multiple New Hampshire insurers’ policy options if you need different coverage.