RICHMOND, VA (WWBT) – If you are headed off to college this year, AAA says don't leave home with out insurance. Whether you are a new or returning student, making sure your property is covered can provide piece of mind and save you lots of money.
Before you pack your bags, AAA says make sure you talk to your parents about insurance coverage for your valuables.
If you are a college student, insurance is probably the last thing on your mind. Student Therese Verkerke says, "I don't think it is something that most students think of when they come to college."
Another student, Monica Arrington says, "Not so much insurance just more protecting all their stuff and making sure nobody steals it."
AAA Insurance Counselor Stephen White says he understands the lack of concern. "I didn't when I was in college, that was the farthest thing from my mind was protection for my goods and chattels but it is just a wise thing because you never know what could happen."
AAA is advising students not to leave home without making sure their valuables are protected, White says students on campus are protected under their parent's homeowners insurance.
But if you live off campus, you need your own insurance. He says, "If you were able to pick up your apartment up and shake everything out, everything that comes out that is your piece of property, that is your goods and chattel, that's personal effects, that is what you are trying to cover with a renter's policy."
Insurance agents say don't wait until something happens before you get insurance -- by that time it's too late.
White says, "I think of women's shoes when I talk about that and my wife's shoes just what it would it cost to replace all those and when you add that up in your head it is a lot of money."
We all know college students are on a tight budget, so we asked about the price. White says, "It is really inexpensive to get a renter's policy typically they run between $100 and $200 a year for $20,000 to $25,000 in coverage."
That only comes out to about $20 a month -- a small price for some big protection.
White says, "If there is a fire or a catastrophic situation and you don't have it you are just out of luck."
Insurance agents say another important step, whether you live on or off campus, is to make a list of your items in the event of an accident, it will help insurance adjusters determine the amount your insurance company has to pay you to recover your loss.
If you have questions about your policy and want to make sure your child is protected, AAA suggests you contact your insurance agent.