Students heading to college are packing more expensive items then ever before. And many are not bringing those items back home. The Independent Insurance Agents of America, Inc. (IIAA) reports that more than 100,000 property crimes occur on college campuses each year with an average of $1,250 in property loss.    

Most students take expensive items to college with them.  They take everything from computers and MP3 players to televisions and mountain bikes, quite a bit of money can be lost in the event of a fire or robbery.  Most parents are not financially prepared to take on the out of pocket expense.

It’s always best to consult with your insurance agent when any changes occur in your household and before the unthinkable occurs. Most policyholders, including ERIE Policyholders, will not likely need additional homeowners insurance coverage when their son or daughter goes to college.

Since ERIE’s resident relative coverage applies worldwide, your homeowners insurance will extend coverage when your child is away at school.

One item a homeowners policy limits coverage for is the theft of money.  It’s always good to make sure your child has a checking account or a debit card with them at school.  You don’t want your child to carry large sums of money with them.

Insurance carrier’s homeowner policies may limit a student’s personal property coverage while at school to 10 percent of the total coverage. For example, if you have $50,000 in personal property coverage, your child’s coverage at school could be limited to $5,000.  This amount is also subject to the property deductible on the homeowner’s policy.

Keep in mind that every insurance carrier has different limits, so it’s best to double check the provisions of your policy with your agent.

**Please Note: Safelite Auto Glass will be at Yetter Insurance on Friday, Sept 20th to do FREE Vin etching on your auto glass.  VIN Etching is an effective tool that is used to deter auto theft and may increase the discount on your auto insurance policy.  Please call us today to schedule this valuable theft deterrent tool!  570-296-8329.