IS THAT COLLEGE-BOUND IPAD COVERED?

Electronics for the college student (or any student) of are scholastic necessities. These include iPads/tablets, smartphones, laptops, and that old standby, the PC. Of course, these items are (generally) covered when your student is home on break, but what about when they are on-campus?

If the housing of choice is the dorms, which are likely owned by the college, your homeowners or renters policy likely covers theft and probably damage. If college life included an off-campus apartment, you may want to invest in individual renters insurance. Remember, even if a loss is covered under your policy, deductibles and other limitations apply. Items such as jewelry, expensive sports equipment and musical instruments may be subject to dollar limits under standard homeowners and renters policies.

Off-campus students may want to consider renters insurance of their own. This type of housing is, in fact, a rental just like in the “real world” and the appropriate cautions should be taken. Renters policies come in two basic forms: Actual cash-value policies cover the value of the item at the time of loss, taking depreciation into account; replacement-value policies cover the cost of replacing the lost item with a new one. Replacement-value policies cost more, though both types are subject to the coverage limits.

Just as with your home contents, make an inventory of all valuables being packed off to college. Take pictures, write down serial numbers, and keep receipts. Compile a list of items the student plans to bring to school, along with the estimated value. Having an up-to-date inventory can facilitate the claims filing process in the event of theft, fire or other types of disasters.

Finally, consult your insurance professional to make sure what you think is covered is, in fact, covered.