Dorm Room insurance?

Parents Forum
1

<p>Ok, based on my laptop lock thread I have now decided on the following~
1.No laptop lock
2.Get insurance</p>

<p>So can any of you that have "been there, done that" compare and contrast the various college dorm insurance programs for me?</p>

<p>Really, my daughter won't have too many valuable possessions outside of the laptop(as yet unpurchased), cell phone, Garmin car GPS, old ipod nano, inexpensive camera & maybe a boom box with ipod adapter. She does not wear expensive jewelry, play video games, or have any high end electronics. I would say the bulk of her stuff will be clothing.</p>

<p>So, with that in mind, anything I should know or consider?</p>

<p>I think I'm actually more interested in the whole concept of replacing it if it is accidentally damaged than I am in theft. She's much more likely to drop her laptop or spill something on it than to have it stolen I'd bet.</p>

<p>Thanks in advance for any help you can provide!</p>

2

<p>I paid $106 for a policy (12 months); the deductible is $25. My daughter’s Kindle was ruined when rain leaked into her room, and this company replaced it and were very easy to deal with. I will be renewing the policy, too. It also covers your child’s items if they are living off campus (as long as they are enrolled in college). You have to provide proof of enrollment when filing a claim.</p>

<p>Here is the link:</p>

<p><a href=“http://www.collegestudentinsurance.com/[/url]”>Filing a Claim;

3

<p>I used the same company for my D last school year, but never had to file a claim for anything. I was also more worried about D dropping or spilling something on her Macbook than I was about theft.</p>

<p>mom4college - I’m glad to hear they were easy to deal with if you have to file a claim. I am going to renew the policy for next school year since they will still cover D in her apartment.</p>

4

<p>We are going to renew for S next year, as well.</p>

5

<p>I have heard nothing but good about CollegeStudentInsurance CSI. My D is about to file her first claim. I will provide an update when she does it.</p>

6

<p>We had CSI for D2s dorm years. They replaced her laptop after she spilled liquid on it. College tech department certified that the problem was liquid , we pulled up the original receipt, no problem. New computer. They also replaced glasses that were stepped on. </p>

<p>Eyeglasses that were left on the floor, not some damage from wild party…</p>

7

<p>Thanks! I’m going to get CSI :)</p>

8

<p>I also got CSI and luckily haven’t needed to file a claim yet.</p>

9

<p>I purchased insurance for both sons through CSI last year. S1 didn’t have anything break, so no claims were filed. S2 spilled water on his iPod which CSI replaced with a Nano, no hassle at all. The Nano went through the laundry, and we’re in the process of filing another claim. </p>

<p>Will definitely renew.</p>

10

<p>Some other possibilities:</p>

<ol>
<li><p>Check to see if your regular homeowner or renter insurance covers or can have a rider added to cover stuff that a student takes to a school dorm room.</p></li>
<li><p>Check to see if stand alone renter insurance is available for the student’s dorm room.</p></li>
<li><p>Check to see what the total replacement cost of the items in the dorm room would be, to determine whether and how much insurance may be needed.</p></li>
</ol>

<p>Note that data on computers and the like may be the most valuable things in the dorm room – a student who has his/her final project paper almost done when the computer is damaged may care less about the computer than about the final project paper. Making provision for backup (preferably off-site) may be something to look into.</p>

11

<p>Thank you everybody! It looks like CSI it is! </p>

<p>I thought there were several companies but I guess not. </p>

<p>Hey, if anybody is looking for a business model to start a new insurance company, here you go…seems like anybody with a monopoly is not a good thing.</p>

12

<p>I just called my homeowner’s insurance and added a rider to cover my daughter’s computer…INCLUDING accidental damage. It costs me $8/year.</p>

13

<p>MsMayor…what’s your deductible on that? From what I understand you’d still have to pay your homeowners deductible and that could be more than the price of a laptop.</p>

14

<p>CSI is better than adding a rider to a homeowner’s policy because if you have to file multiple claims, your insurance company can raise your premiums or drop you. Better to be dropped by CSI than your homeowner’s insurance.</p>

<p>We learned about CSI after S2’s 6-mo old MacBook Pro suffered “catastrophic liquid damage” (not his fault, someone else). The AppleCare extended warranty does not cover liquid damage of any kind. We had to pay for a new laptop. I wish we’d had CSI because they would have covered the replacement value of a new computer. They did, however, pay for repairs 3 weeks later when someone stepped on the NEW computer & cracked the screen (after S2 foolishly left it on the floor in his room). </p>

<p>We opted for CSI’s $25 deductible & the minimum amount (~$3,500 I think) for “catastrophic” coverage. Our premium was ~$85/year but it is valid 365 days/year, & covers property on campus, at home, traveling on break or study abroad - wherever the student goes. And for the record, this past year in S2’s freshman year we had to repair/replace 2 computers & 3 cellphones. He also had 3 concussions & a dislocated shoulder. He likes to “live life on the edge.” :slight_smile: </p>

<p>However, there are common scenarios where you might want dorm insurance even for a careful, responsible student: roommate trips & spills coffee or other beverage on computer; smoke alarm in dorm goes off & sprinklers go on; natural disasters (ie flooding, fire, earthquakes, tornadoes/hurricanes); etc. </p>

<p>My take-home advice: dorm insurance @$85-$100/yr is a heckuva lot cheaper than replacing a laptop or other expensive items.</p>

15

<p>I just emailed my Liberty Mutual agent, to inquire about an endorsement to our homeowner’s policy for dorm coverage. This is what she said:</p>

<p>"Good morning Mary,</p>

<p>We extend coverage to the items your son brings to his dorm automatically, up to 10% of your personal property coverage ($x). If you wanted to add computer coverage for a laptop he may be bringing with him, the annual cost would be $19. This endorsement would cover up to $5000 in computers & accessories with only a $50 deductible applied. I’d be happy to provide an expanded explanation of the benefits if you are interested." </p>

<p>I wrote back to ask if they would cover all dorm electronics with that one $19 endorsement, or if we would need to scheduled each of the items separately. I also asked if there were exclusions to the coverage</p>

<p>I hadn’t considered the potential increase in homeowner’s insurance after filing a claim, however. After reading 12rhm18’s response above… I’m willing to bet CSI will wind up offering the most comprehensive coverage with the fewest exclusions…at a competitive rate (if homeowner’s policy requires items to be scheduled for separate endorsements). I will report back, once I hear.</p>

16

<p>We bought CSI last year for my DS for purposes of insuring his computer, Xbox etc. However, in late April he had approximately $1,000 of name-brand clothes stolen from the laundry. They took the North Face, the Polo’s, Izod’s, Abercrombie, Tommy Hilfiger etc and left the underwear and T-shirts! Well, he goes to a school nicknamed “J Crew U”.</p>

<p>After filing a police report, DS just had to itemize what was stolen and retail price. Since most people don’t save receipts for such items, as opposed to major items such as laptops, they took copies of credit card and bank debit card statements to show purchases at stores that sell these brands. The check came a couple weeks later. I highly recommend CSI.</p>

<p>My regular insurance agent told me to use a specialty student insurance company. While a rider she could sell me on my homeowner’s might be a little cheaper, any claim goes against the parents policy. Some companies cancel after two claims. If you are cancelled, you are thrown into a high-risk group and your homeowner’s premium spikes.</p>

17

<p>there was a previous thread on this topic, with another suggestion (NSSI)</p>

<p><a href=“http://talk.collegeconfidential.com/parents-forum/970586-insurance-dorm-contents.html?highlight=dorm+insurance[/url]”>http://talk.collegeconfidential.com/parents-forum/970586-insurance-dorm-contents.html?highlight=dorm+insurance&lt;/a&gt;&lt;/p&gt;

18

<p>We use NSSI and have been very happy with it. The difference between using one of these groups like NSSI or CSI and your homeowners is that they have very low deductibles and they cover loss, theft, damage whatever happens. The cost for the policy is very reasonable too, especially if you you only need 2-3K in coverage. They are very easy to work with too. We are now going into our 4th policy year with them and have had 2 claims, one for a stolen necklace and one for a dropped computer cracked screen repair.</p>

<p>You should keep receipts for anything you have them for and anything you don’t, like jewelry, take of pic of kid wearing it and store it somewhere. Write down serial numbers of electronics that you don’t have reciepts for.</p>

<p>[Affordable</a> Laptop Insurance, College Student Insurance, Personal Property, & Laptop Theft | National Student Sevices](<a href=“http://www.nssi.com/]Affordable”>http://www.nssi.com/)</p>

19

<p>My son has had CSI for 2 years now. No claims the first year. On the drive down for his second year, he broke his GPS screen. They paid for a replacement, less the deductible. One thing to note is that he waited about 2 months before filing a claim (had replaced the GPS on the trip). They gave him a lower replacement cost due to a price drop on the GPS over that time. So, be sure your student files promptly.</p>

20

<p>My agent emailed back, and their $19 endorsement to existing homeowner’s policy covers: </p>

<p>o Computers whether desktop, laptop, notebooks, or netbooks
o iPad
o iPhone
o Blackberry
o iPod Touch
o Any other “Smart Phone” (defined as having the ability to manage and transmit data including surf the web & send/ receive emails similar to a PC) </p>

<p>There DO appear to be gray areas for possible exclusion … so if you are comparing coverages…make sure to ask. In my case, a proposed homeowner’s endorsement could EXCLUDE the following :</p>

<p>o "Neglect of the insured to use all reasonable means to save and preserve the property at and after the time of a loss, or when property is endangered by a Peril Insured Against.</p>

<p>o Water Damage, meaning: </p>

<p>~flood, surface water, waves, tidal water, overflow of a body of water, or spray from any of these, whether or not driven by the wind; </p>

<p>~water which backs up through sewers or drains; or </p>

<p>~water below the surface of the ground, including water which exerts pressure on or seeps or leaks through a building, sidewalks, driveway, foundation, swimming pool or other structure.</p>

<p>Exception: Direct loss by fire, explosion or theft resulting from water damage is covered.</p>

<p>o External power surges, short circuits or magnetic interference</p>

<p>This is a no-brainer for us…we will be purchasing coverage for my son’s personal dorm possessions through either CSI or NSSI. Thanks all, for this addd nugget of info!</p>