College student insurance could save parents a lot of money - WFSB 3 Connecticut

College student insurance could save parents a lot of money

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Students are heading off to college and they’re bringing a lot of expensive things with them, like televisions, phones and computers.

Of course, those things can be stolen or damaged, but there’s something parents can do now that could save a lot of money in the long run.

There’s a lot of schlepping involved when it comes to moving kids into their college dorms.

John Ball helped his daughter at Quinnipiac University, and he bought her a TV.

"We just discussed the TV and I said where do you we want to put the TV. If it gets broken, all eight will have to chip in and get a new one,” Ball said.

If something did happen to that TV, Ball would expect his daughter and her roommates to buy a new one -- but if they had college student insurance, they may only have to pay $25 to get a new one.

Some insurance companies have specific plans, and they're pretty affordable-- $100 a year covers $4,000 worth of items.

It doesn't matter if they're stolen or your child happens to damage the item or lose it.

When you think of it, there is a lot of expensive stuff in a college dorm these days and some parents may think their homeowners insurance will cover the cost of replacement.

"Most people will send kids off to school not thinking about all the devices like laptops, play stations, phones, and clothing. They think their home insurance will cover it but those deductibles are much higher,” said John Meriano, of Quinnipiac University.

He said he tells parents and students about these specific policies because it’s not uncommon for bad things to happen. You can also search online for a company.

You may never need to make a claim, but in the event you do, you'll probably feel a lot better paying only $25 to replace that cell phone or TV.

"That’s fair. I would say the average student is going to use this at least once in four years --- at least once,” Ball said.

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