Off to College or University? Keep Yourself Covered Off to College or University? Keep Yourself Covered Laptop. Cellphone. iPod. Insurance. The first three items without the fourth can create an expensive problem. Insurance will respond should theft of these and other personal items occur. Many students are covered by an extension of their parents’ homeowner’s policy. Some insurers cap the coverage at $5000, others do not. If a claim is made on behalf of the child, then it counts against the parents’ policy. If the student is living off campus, and especially if sharing accommodations, a separate tenant package policy may be required. The insurer should be told about any sharing arrangement in advance to avoid complications if a claim is put through. This type of policy also covers students against liability for damage to the home or residence where they are staying (fire, for example), and against injury claims from visitors. On the auto insurance side, if the student is not taking a vehicle to school, coverage is usually available on the parent’s policy as a part time driver. If the student does have a vehicle at school, or has moved out permanently, changes will have to be made to the parents’ policy. A new policy is needed if the student is moving out of province, since auto insurance varies provincially. Before the student leaves for school, have the conversation with your broker to determine what is required by the circumstances.