Do NOT get your college kid in the habit of filing claims on a missing handbag or pair of sunglasses.
Insurance companies LOVE customers like you. They either buy riders or extra policies on stuff and never have a claim (pure profit), or they buy riders and extra policies and DO have claims- on handbags and sunglasses. And their rates slide upwards.
Start to teach your kids that insurance is for catastrophic losses and other “we can’t recover from this” without help types of claims. Do not have your college kids assume that “oh, that’s what it’s there for” everytime something gets misplaced and files a claim.
This is absurdity and makes no economic sense whatsoever. If your kid can afford shi-shi handbags, she can afford to replace one if it gets lost or damaged. And taking it to college- where it’s a signal to everyone that there’s likely something in her room worth stealing- is equally absurd.
Do the math on the extra insurance. P&C companies make their profits on people who can’t do math. Especially those whose “stuff” is likely already covered by an existing manufacturers warranty on breakage or damage, or whose credit card already insures their “stuff” from loss or theft.
No need for a safe, manu kids won’t take the time to lock things up anyways. Get a student insurance policy through NSSI. It’s maybe $8 a month and covers up to $2500 a claim with a $25 deductible. Covers damage and theft with a police report (not loss) for about $8 a month. And you can get bigger plans for more $ As far as expensive items go, other than their laptop and phone there shouldn’t be a need for expensive stuff (I would let my kids take expensive sneakers if they wanted).
@blossom The OP asked if kids take valuables to school, I answered that question. Why the anger over someone taking nice things to college? I think you misread my post completely - we wouldn’t file a claim on a lost/stolen designer handbag or sunglasses - but I didn’t want to come off like a snob and say that we would just buy another, but that is what we would do…We got the coverage for the computer and very expensive professional camera she uses and the other stuff just happens to be included - by doing it on our policy versus what the school offers, the coverage is for all over town, not just the dorm, we aren’t worried about stuff getting stolen there as much as when she is out and about. At 100 whopping bucks a year it was worth it for peace of mind on the tech stuff. I thought that would be helpful for the OP to know.
Lock, lock, lock, dorm insurance plus musical instrument insurance for her very expensive musical instrument.