Hello -
Planning ahead for August, and I’m wondering if folks here have used dorm insurance for their students? A quick search brought up Gallagher and Lemonade but I’d like to hear about anyone’s pros/cons on this.
S23 will have a new laptop, a phone, some outdoor gear, and possibly an old bike - but no expensive clothes or toys, TVs or game systems or anything like that.
He’s off to a SLAC, and I think in his case a claim would be most likely due to damage (e.g. dropped the computer).*
If people have used dorm insurance in the past and filed a claim, did your premiums jump up quite a bit? (Thinking about how it’s typically never worth it to file a damage claim on one’s auto insurance as your rates will jump, so just fix the bumper yourself and let it go.)
*If anyone has a great recommendation for a MacBook case I’d love to hear it; kiddo’s Chromebook (without a case) is a wreck and before I buy him a new MacBook Air I want to build in protections for it!
We did renters insurance, applied for on Progressive’s website per the recommendation of my insurance agent sister (who could not write it due to being out of state).
We didn’t get any extra insurance for the dorm, but we do have AppleCare+ on the computer and iPhone. Those are really the only things of much value she has with her.
ETA: AppleCare+ covers accidental damage, too, although there may be a fee, but cheaper than replacing the whole laptop. AppleCare Products - Apple
We use Gallagher for both of our college students = one submitted a claim for stolen earbuds (stolen right out her hand) and there was no change to the premium. She did have to fill out a police report and file with Gallagher to get paid.
It is very inexpensive for the school year premium plus a very low deductible - our kids have either $25 or $50 deductible. We were advised to not add to our home policy - as our deductible is significantly higher and we would never claim their items on that policy or want to deal with an increase on our home policy.
There was also an accidental dorm fire and many students items were smoke and/or water damaged - big hub bub on the parent’s page, as the school is not liable to pay the expenses for personal items kept in the dorm. So families had to replace all bedding, clothing etc…it adds up! This didn’t impact my kids and made us feel a bit better we had the insurance and know all their items are covered if something happens and ruins their belongings.
Both of our kid’s schools provided info and suggested to get a policy - I don’t think a lot of people end up buying one.
I don’t have any recent knowledge of renter’s insurance, but I will say it’s crucial to get it! Pipes burst in my dorm one winter break when I was in college. The stuff on my side of the room was fine, but my roommate had a lot of damage. The dorm refused to compensate her. That’s when both of us learned about renter’s insurance! Sigh.
We had the Gallagher insurance and they paid without question when a drink was spilled on D’s laptop. No change to premium. When S rented an apartment and needed liability insurance he got his own StateFarm policy which included liability at no additional cost so was a bit cheaper. But deductible was much higher, fortunately we didn’t need to make a claim.