SCRANTON -- It's the time of year when many college students are back on campus or are preparing to make that move.
While many might have their minds more focused on getting their dorms setup and getting back to the books, insurance agents are also encouraging students and their families to make sure their property is protected.
Newswatch 16's Ryan Leckey tackled the topic of "Safeguarding Your Stuff" from Marywood University in Lackawanna County on Tuesday. Ryan teamed up with insurance agent Tom Kelly who's with Connor-Helring Associates in Scranton.
When moving back to campus, Tom suggests:
- always check with your insurance agent. Let them know if you're living in a college dorm or an off-campus apartment and ask what your policy covers.
- There is a difference between homeowners and renters insurance.
- Consider renters insurance even if coverage is extended from the homeowners policy because most parents' policies have a $1,000.00 deductible whereas most renters' policies carry a $500.00 deductible.
- By having a renters insurance policy, it's placed in the student's name which helps them create their own insurance history. It helps establish "insurance credit," same as you would with a credit card.
- When getting renters insurance, two additional coverages to consider: 1) replacement cost for contents and all risk coverage. 2) personal injury which could cover your child for liable, slander or defamation of character on social media.
Checking into your insurance policies to make sure your children are covered is a timely topic since so many are back to class. You may remember this Newswatch 16 story in February 2017 when a number of students at East Stroudsburg University had their property damaged in a fire and did not have renters insurance.
While universities have insurance policies in place to cover damage to campus buildings, students' property is not covered by the school.