Students are usually covered by their parents’ home owner’s insurance as long as they reside at home and are below a certain age. However, when they go off to a university, this all changes. No longer are they residing under their parent’s roof. Their belongings are no longer primarily on the premises of the family home. This necessitates the need for a different kind of insurance to protect student possessions. In order for this kind of coverage to be obtained, students need to take out what it known as student content insurance. Contents insurance for students can be very easily accessed online where students can compare prices.
Today’s students bring different things with them to college than their parents did. In today’s digital age, students usually own a variety of technical gadgets that if stolen are expensive to replace. With a more communal living situation in dormitories and apartments, a different type of risk is posed for student possessions. Therefore, a student insurance policy should be part of any student’s preparations for college.
Certain student insurance policies provided different levels and types of coverage. For instance, some students insurance policies will only cover general items and exclude electronics. However, this does not mean electronics cannot be covered. Some insurers require specific coverage for specified gadgets. This could include laptops, smartphones, television and other high ticket electronics.
Student insurance policies mainly cover theft of student possessions. Although, some insurers do offer optional coverage that will protect items in the event of an accident. Insurance companies will offer tow levels of coverage for student possessions. This would include actual cash value insurance or replacement cost insurance. Actual cash value insurance is much cheaper but in the long run, it really is not the better option. Replacement cost insurance will provide the student with reimbursement to go out and by a new item to replace the stolen one. Actual cash value only provides the current value which is not enough to replace the item unless the student adds some of their own money.