Caring mother Amy wants to know how much is too much to pay for property insurance for her college-bound kid when he goes off to school.
My son will be going off to college in another state in the fall. The school is recommending property insurance for students. Is that a good idea? They recommend a Replacement Cost Value Coverage with a $5,000 policy limit and a $25 deductible at a cost of $126 year (plus $5 processing fee.) Wouldn’t my homeowner’s insurance cover any loss?
He will be taking a brand-new laptop computer among other electronics.
What’s your advice for Amy?