Should I Buy Property Insurance For My College-Bound Boy?

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.

She writes:

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?