Teenagers are living in a brand new world. A world where personal computers, cell phones and other valuable items are attained at a very early age. And all of these pricey valuables are heading off to college with them. In this new digital world where theft has become one of the largest crimes on college campuses, you have to be proactive in protecting yourself and your stuff. That means getting your hands on some quality college property insurance.

Unfortunately, many parents are misled to think their homeowners insurance will cover the losses of their college-bound children. While it’s imperative that you do your homework and check the provisions of your policy, chances are your child won’t be adequately protected unless you have coverage for personal possessions. That means any personal belongings in a dorm, fraternity/sorority house or apartment are at risk.

College Property Insurance Minimizes the Risk

There are far too many broke and needy college students who will find themselves tempted to get their hands on your shiny new Wii gaming system. And when a party’s hopping and the lights are low, they’ll have their chance to snag it. Studies show students in dorms, fraternity/sorority houses, and college apartments are at high risk, especially with those expensive electronics and sporting goods. But when you have student property insurance, you may be able to have it replaced without using a cent of your own money.

Where Do You Fit In?

If you’re living in a dorm or in on-campus housing, personal property is likely covered through your parents’ homeowner insurance policy (typically for up to 10% of your personal property coverage). But before you go putting in that claim, think about this:

• Big or small, a claim is a claim when it comes to property insurance. If you lose your laptop, it can count against you just as much as if your house burns down. Either one can place surcharges on your policy, which leads to an increased premium. Even worse, the more claims you make, the more likely your policy won’t be renewed.

• Your deductible will be higher… up to $750 or $1000.

• See if the school carries plans to insure student property. With lower deductibles and a streamlined claims process, your rates and eligibility won’t be at risk.

When it comes to off-campus living, property insurance policies may not cover personal property. While many people assume the landlord’s policy covers any losses, that’s not the case. Only the physical building is covered. And since burglary, theft and vandalism can occur at any moment in your rented home, you’ll want to consider some form of personal property protection. And that protection is renters insurance.

What is Renters Insurance?

• If your personal property is lost, stolen or destroyed, Instead of losing thousands of dollars to replace them on your own, renters insurance can pick up the cost of these items. Depending on where you live, off-campus housing renters insurance rates can be obtained for around 50 cents a day or less.