$126.00 annual fee for "dorm insurance"

Off to school? Protect those valuables. The main choices a student should consider when looking at dorm insurance are:

1. Should the student be added to Mom and Dad's homeowners policy?
2. Should the student get a separate policy of their own?

Insurance companies offer renter's insurance and it is probably a better option than Mom and Dad's policy, here's why:

Renter's insurance has a deductible of 25-50.00, while Mom and Dad's policy probably has a deductible of 500.00-1,000.00.
It is much easier to replace those items that are 1500.00 (laptop) on renter's insurance... replacement cost 50.00 compared to 500.00-1,000.00 on the homeowner's, and the more expensive homeowner's policy is protected from going up due to claims from the student whos been ripped off at school.

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