Page 12 THE VILLADOM TIMES II • August 29, 2012 Insurance considerations should be at the top of your college checklist, according to the Professional Insurance Agents of New Jersey, Inc. This trade association, which represents agents across the state, is reminding students and their parents to contact their insurance agents to verify the specifics of their policies and educate themselves about any coverage limitations. One thing to think about is insuring your children’s valuable possessions. “Check your homeowners’ policy to see if the items your child is taking to college are covered in case they are damaged or stolen,” advised Anthony Bavaro, CIC, PIANJ recommends insurance for college students CRM, president of PIANJ. “Prepare and maintain a list of possessions such as computers, televisions, stereos, cameras, and jewelry, including the original cost and purchase date. If the value of these items exceeds the off-premises coverage limit of your homeowners’ policy, purchase additional coverage. You’d be surprised how much everything adds up.” Students living on campus may be protected by their parents’ homeowners’ policy, as long as the student maintains residency in the parents’ household. Some insurers expressly define what “residency” means in their policy, but many insurers leave room for interpretation. Before a claim occurs, be sure to find out what criteria your insurer uses to determine whether your student child is still a resident of your household. College students renting an off-campus apartment or house while away at school may need to consider purchasing a renter’s policy, depending on the situation. In order to get the best protection, choosing a scheduled coverage option probably makes sense for high-value possessions such as computers, musical instruments, and jewelry. Auto insurance is another consideration for collegebound students. If your child is attending school more than 100 miles from home without custody of a household vehicle, you may be eligible for a reduction in your auto insurance premiums. If your child has custody of a vehicle at school, the insurer may want to rate your insurance based on where the vehicle is garaged. Remember to instruct your child about what to do in case of an accident and where the important documents (i.e., insurance card and vehicle registration) can be found, PIANJ officials added. “It’s a good idea to contact your independent, professional insurance agent whenever a major life change occurs,” said Bavaro. “College is one of them. Parents and students should be fully aware of the options available to them.” PIANJ is a trade association representing professional, independent insurance agencies, brokerages, and their employees throughout the state.