The week of Aug. 22 is move-in week for students heading to colleges and universities. Most students are excitedly packing to leave home for a new adventure, while parents are anxiously worrying if they will have everything they need.

While you may have purchased and packed the clothes, textbooks, laptops, electronics, dorm room necessities or furniture for their home-away-from-home rental, have you checked to make sure their “essentials” are covered with your insurance?

The Indiana Department of Insurance wants parents to be aware that they should check their insurance policies to ensure their college-bound children’s possessions are covered when they make the move to college living. Whether your college student lives in student housing or a rental house or apartment, they are likely to take valuables with them that could be stolen or destroyed in a fire or other natural disaster.

“We recommend that parents do their homework by reviewing their homeowners policy or contacting their insurance agents to determine exactly what is and isn’t covered for their children going off to college. College students should be properly covered before moving onto or near campus to alleviate any unfortunate financial surprises due to a claim that the insurance company won’t pay because it wasn’t covered in the policy,” said Indiana Department of Insurance Commissioner Stephen W. Robertson.

Does Your College Student Need Renters Insurance?

As with any insurance policy, you should evaluate the benefit of coverage on an individual basis. If your student is younger than 26 years old, enrolled in classes and living in on-campus student housing, your homeowners policy will likely extend to the belongings they take with them.

If your college student is living off-campus, you should talk to your insurance agent about whether your homeowners policy coverage will extend to the rental property. You should not rely on the landlord’s insurance to cover your college student’s possessions. The landlord’s insurance most likely covers structural damage to the building and may even protect against damage caused by tenants. Coverage does not extend to your college student’s personal property, nor does it protect him/her from being liable for damage they might cause to the building inadvertently (e.g., a kitchen fire or plumbing mishap).

What Coverage Does Renter’s Insurance Provide?

Typically, renter’s insurance covers loss of personal property caused by fire, windstorm or hail, smoke, vandalism or malicious mischief, and theft, to name a few.

Another important component of renters insurance is liability coverage, including personal liability and medical payments to others. Personal liability can provide much needed coverage if, for example, a claim is made or a suit is brought against your insured college student for damages because of bodily injury or property damage caused by a fire in your college student’s off-campus rental.

Renter’s insurance also can provide necessary medical payments to others in the event a person on your insured college student’s rental property becomes injured or an injury is caused by an animal owned by or in the care of your college student.

If your college student has unusually expensive items, such as fine jewelry, you may consider adding a “rider” to provide extra coverage. Your insurance agent can help determine if an additional rider is needed.

Talk to your insurance agent or company about the property you want to protect and insure. Your agent will be able to help determine which coverage is best to protect your college-bound student.