When to Consider Dorm Insurance
Dorms are packed to the brim with expensive gadgets and goodies. Whether you’re a college student looking to protect your belongings or a parent who doesn’t want to buy a replacement, here’s a thin dorm insurance policy for you.
According to the latest FBI data on campus crime , most property crimes against students take place on campus; and half of these crimes occurred in hostels, where identification cards are required to enter. With numbers like this, it’s safe to assume that living in a dorm doesn’t mean you’re protected from theft. Dorm insurance can cover things in the same way homeowners insurance protects things in your home, but is it worth it? Jeff Blayscall of Consumer Reports breaks it all down so you don’t have to do it. Here are the main takeaways:
- Homeowners insurance usually covers children living on campus up to 10 percent of your home support limit ($ 50,000 protection means $ 5,000 on campus).
- Tenant insurance is required if the student lives off campus.
- Dorm insurance can be affordable if you or your parents don’t want to worry about using homeowner’s insurance coverage.
The bottom line is that dorm insurance can be a good idea if you or your child’s dorm is filled with laptops, tablets, phones, bicycles, and TVs. That being said, if you have good homeowners insurance ( which is what you want ), it may not be worth the extra hassle. Of course, it’s always a good idea to check with your insurance company to see if your coverage covers campus living. To find out more and get suggestions for good hostel insurance, be sure to check out the full story at the link below.
Is it worth buying insurance at a hostel? | Consumer reports