What Is Dorm Insurance?

Although the chances of losing student belongings are relatively low, they are never zero. Student property insurance or dorm insurance, for short, protects college students’ personal property against theft and damage. Although it is not required to have a dorm insurance policy for students, it is highly recommended to at least consider opting for it, especially if you have valuable personal belongings or important data stored on your gadgets.

What Does Dorm Insurance Cover?

Although each policy coverage will depend on what certain insurance providers offer, most policies cover for damage to personal property within students’ accommodation (including warranty on accidental and water damage to electronics). The items that are typically included in student insurance are:

  • Phones, laptops, tablets
  • TVs, Computer Monitors
  • Other appliances
  • Furniture
  • Clothes
  • Books (including university textbooks)
  • Money stored in cash

As a rule, contents insurance policies always have limits on what a person can claim if the insured item was stolen or damaged. Potential losses can be avoided, however, with a slightly more expensive policy that will provide broader coverage for:

  • Expensive gadgets and loss of data
  • Jewelry and expensive accessories
  • Musical instruments
  • Specialized equipment

Needless to say, the full coverage policy can become pricey quickly and is not meant for every college student. Nevertheless, if you want to become a music major, a computer science specialist, or similar, such a policy provides excellent value for the price.

How Much Is Dorm Insurance?

The deductibles for dorm insurance can be as low as $25, the average monthly cost for a policy ranges from $10 to $20. Conversely, the annual plan can cost from $180 to $260 for the full package. In the end, it is advisable to insure your gadgets, student books, and other personal belongings that can affect your studies if they get stolen or damaged.