Smart tips for insuring college-bound students’ assets

Summer is wrapping up, and college move-in season is kicking off. Whether students are heading off to college for the first time or returning to campus, it’s the perfect time for parents to make sure vehicles and other property are adequately covered by insurance, and students know how to guard their property and identity against theft.

It’s always a good idea to review insurance coverage before students depart. Dorm rooms can be a hot spot for thieves. Just two roommates could have thousands of dollars’ worth of electronics alone ― laptops, tablets, smartphones and gaming systems ― as well as other items of value in their small living space.

“College campuses present different risks from living at home, so it’s important to speak with your insurance provider to be sure your student is properly protected and covered if their vehicle or personal items are stolen,” said Dan Scroggins, Personal Lines Insurance vice president for AAA Club Alliance.

According to findings from the U.S. Department of Education Campus Safety and Security survey, there were 41,801 reported crimes on postsecondary education campuses in 2023. Burglaries, robberies and motor vehicle thefts are included in the most frequently reported college campus crimes. Among the most common items stolen from college dorms and apartments are electronics, cash and credit/debit cards, bicycles, scooters, jewelry and clothing.

College students living away from home should understand they may have limited coverage under their parents’ homeowners insurance policies and should double check that they have the coverage they need before they go.

Renter’s or homeowner’s insurance tips

For students who live in a dorm, some personal possessions may be covered under parents’ homeowner’s or renter’s insurance policies. Expensive items, such as electronics, may be subject to coverage limits under a standard homeowner’s policy, and some states require a special student endorsement. It’s a good idea to review coverage with an agent before heading to campus.

Students who live off-campus should purchase renter’s insurance to protect themselves and their belongings. It can also protect them from liability in the event someone is accidentally injured on the property. Renter’s insurance is often required by apartment complexes.

Choose carefully when deciding what to take to campus. While some valuable items, such as laptops, are needed on campus, items such as expensive jewelry are best left at home.

Creating a detailed inventory of all items in the dorm room can be a real time saver. If the need to file a claim arises, an up-to-date inventory will make the process easier.

Safeguarding items from theft should be a top priority. Always lock the dorm room door and never leave belongings unattended on campus. The library, dining hall, and other public places are hot spots for property theft.

Auto insurance tips for students

Coverage may depend on location. For students who bring a car to campus and remain on their parents’ policy, coverage likely still applies. If they attend an out-of-state school, it’s smart to make sure the coverage follows them and that it meets the minimum requirements for that state. Students planning to stay away from home year-round should check with their agent to see if they are still covered on their parents’ policy. 

Even if the student is leaving a car behind at home as they move away to college, their insurance provider should be notified of the change. A separate policy might be required. The parents or child may be eligible for one or more discounts.

Protect against identity theft

“Students can become targets for ID theft because they don’t have much of a transaction history, making it more difficult to identify unusual activity,” said Jana Tidwell, Public Affairs manager for AAA Mid-Atlantic. “Scammers use both low- and high-tech methods for stealing a student’s personal information, from looking over a victim’s shoulder to sending out bogus credit card offers to stealing financial information on shopping sites.”

ID theft is the most common type of reported fraud, making up about 24% of all fraud complaints. College-bound students can help guard against identity theft by monitoring their credit, guarding personal information such as PINs or Social Security numbers, never lending ATM or credit cards, choosing strong passwords for online accounts, and using two-factor authentication if available.

Use caution with mailed documents. Mailboxes for dormitories and campus-area apartments may not be secure. For important transactions that could include personal information, students should use a permanent address such as their parents’ home or get a post office box.

Be sure online payments are secure. Avoid using public Wi-Fi when making an online payment or purchase. Not only does this increase the risk of confidential information being stolen, but it potentially enables malware to be put on a personal computer.

Be careful on social media; don’t give out too much personal information inposts. This could make it easier for thieves to guess passwords or answer security questions. Set profiles to private and only accept friend requests from known people.

Keep up on vehicle maintenance

In addition to reviewing insurance coverage, parents with students heading to college should also address the important subject of vehicle maintenance and repair, and being prepared in case of a car breakdown. 

“At home, a young person’s vehicle is often maintained by the parents,” said Tidwell. “Now that they’re headed off to school, it’s important for them to fully understand what routine maintenance they need to stay on top of to keep their vehicle on the road.”

It’s a good idea to find a trusted repair facility near college for routine or unexpected repairs. AAA.com/repair provides a list of AAA-approved auto repair facilities across the country. Keep the contact information handy.

Perform regularly scheduled maintenance. Parents should review the vehicle owner’s manual with the student, explain the recommended maintenance schedule and coordinate planned service. Be sure the vehicle is serviced before taking it to school.

Keep an emergency kit in the vehicle. Be sure it is well-stocked with a flashlight and extra batteries, jumper cables, first-aid kit, basic tool kit and bottled water. In winter, add a small snow shovel, warm clothes, ice scraper/snow brush, flares or reflective triangles and something for traction such as coarse kitty litter or sand.