If you have a child in college, chances are there are some pricey items in his or her dorm room. Insurance companies offer policies to help protect them.
The threat of theft is relatively small — from schools that report crime data, there were only about 798 burglaries and larceny thefts for every 100,000 students enrolled — or less than one percent.
The FBI's website contains more detailed crime statistics for specific schools.
You also have to keep in mind just how responsible your child is. Are they really trusting with their belongings, and just how careful are they? If you decide you do want to insure their stuff, you have a few options.
A parent's homeowners policy will typically cover kids while they're living in an on-campus residence at no extra cost, but the coverage may only apply to 10 percent of your limit on the contents of your home. So if your policy covers up to $50,000 in losses, your student's belongings are covered for only up to $5,000.
A renters policy will be necessary if your child lives off-campus. Premiums vary based on the amount of coverage needed, but are usually around $10 to $22 per month.
