Homeowners Policy and College Students
Question: Is the computer provided by my child's school covered for theft?
Most homeowners' policies cover any personal property owned or used by an insured if it is damaged or lost due to a covered peril. Your child was certainly using the property... and theft is a covered peril. So you should be covered.
The term "insured" includes a resident relative and courts have determined consistently that a dependent child away at school is still a resident of the named insured's household. Under the theft peril, the property of a student who is an "insured" is covered while at a residence away from home if the student has been there at any time during the 45 days immediately before the loss.
However, there is one limitation that does apply. For personal property usually located at an insured's residence other than the residence premises, only 10 percent of the policy's contents coverage is available for losses.
Most policies also require the theft be reported to the police. Although the term "police" is not defined, it is presumable that notice to the campus police would suffice.
Please Note: Be aware that insurance companies do not all use the same insurance forms. So it is important to discuss your needs with your Independent Insurance Agent to determine the best policy and price to address your individual needs.
