College students have lots of stuff. Laptops, smartphones, other digital devices, sports gear, music instruments, and much more. So, does their stuff need to be insured? Maybe. The need for insurance is determined by what it would cost to replace the valuables, where your student is living, and what insurance you already have.

The following scenarios will help you decide.

To help you determine if you need coverage, make an inventory of their stuff, primarily the valuables, and include the replacement cost. Do you need the insurance? The following scenarios will help you decide.

If you have homeowners insurance and your

• student is living in a dorm/on-campus housing. Your homeowners insurance will typically cover the student. You should verify if they are covered and if the coverage amount is sufficient. If not, you may need to add an endorsement or rider.

• student is living off campus. Your homeowners insurance will typically not cover the student. Consider a renters insurance policy.

If you have renters insurance and your

• student is living in a dorm/on-campus housing. Your renters insurance will typically not cover the student. Consider a dorm or renters insurance policy.

• student is living off campus. You renters insurance will typically not cover the student. Consider a renters insurance policy.

If you don't have insurance, then your student may need dorm or renters insurance.

What Are These Types of Insurance?

Renters insurance protects your personal belongings if they are damaged by covered events such as theft, fire, smoke, and storms. It also provides personal liability. Each roommate needs their own policy. Monthly premiums depend on the coverage amount and state but average $15 to $30. College renters insurance is designed for off-campus living.

Dorm insurance typically covers electronic devices such as computers, smartphones, and wireless speakers but also other belongings. Cost is typically low with low deductibles.

Tips for Choosing an Insurance Policy

Shop around and compare coverage and costs.

Check the company ratings at the Better Business Bureau or equivalent for the area.

Check if your insurance company offers the policy you need and if they provide an existing customer discount.

While some colleges offer referrals for dorm or college rental insurance, you'll still want to check them out independently.

Having the right insurance for a student at college can give students and parents peace of mind and prevent substantial costs if losses occur from damaging events, theft, or natural disaster.