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If you have a son or daughter heading off to college, you’ve probably sent them along with most of their most prized possessions. Laptop, stereo, smartphone, mountain bike… it all adds up to several thousands of dollars of personal gear.

So what happens if they get robbed? Will you be stuck for the replacement costs, or are they covered on your homeowner’s insurance policy?

Believe it or not, the insurance policy on your home might just cover what your kid takes to school. But there’s a catch: Many policies only cover the student if they live in a dorm on campus. If they’re in an apartment or house on their own, you might not be covered.

One alternative to covering your student’s possessions while they’re away at school is renter’s insurance. Renter’s insurance is a very affordable way to make sure you’re not out thousands if there’s a break-in. For as little as $15 – $20 a month you can have a bit of piece of mind you won’t find yourself in the Apple store again plunking down for a new Macbook Air.

A few notes:

1. Your student won’t be covered by their roommate’s policy. Policies are specific about covering a single policy holder.

2. A renter’s policy can also include liability coverage, much like your homeowner’s insurance.

3. Taking inventory of possessions and keeping detailed records (with photos and serial numbers) is essential. It provides helpful evidence of ownership in the case of a claim.

You’ll want to talk to your insurance agent about your specific situation, needs, and your policy. Don’t overlook this opportunity to protect your student and your wallet.

Need a referral to an insurance agent? We can help recommend a few we know and trust: Kevin and Jennifer Hanley, REALTORS Keller Williams Realty Atlantic Partners Southside 904-422-7626 http://www.HanleyHomeTeam.com