SACRAMENTO, Calif. — The new school year is in full swing, and college campuses nationwide are buzzing with students. Many of them have thousands of dollars worth of expensive tech and equipment, but how can you protect those investments if they get stolen?
Experts say it’s important to not only keep safety in mind but review your insurance coverage, too.
“If folks are buying equipment brand new, so it’s not refurbished, it’s not a hand-me-down from a sibling, you want to make sure you keep all the receipts,” said financial coach Maureen Paley. “And, you want to make sure you cover the replacement value of the item.”
It starts with understanding your existing insurance policy.
Students living in a dorm are likely covered under their parents’ homeowner’s insurance. The student’s belongings would be protected by “off-premises” coverage or “contents coverage” on a home policy.
This is likely not the case if students live off-campus, though. In that case, look into renters, condominium or dorm-specific insurance.
“Be sure to ask questions for what the coverage entails,” said Paley.
Sacramento State Police Chief Chet Madison says the bulk of thefts on campus are bicycles and e-bikes.
“A lot of it comes down to access and opportunity,” said Madison.
He encourages students to use U-locks instead of chain locks because they’re stronger; they're essentially a large padlock for your bicycle.
“A lot of these students are coming here with the phones that are hundreds, up to thousands of dollars," said Madison. "We always say, if you can, keep those tethered to you as close as possible, same with the laptops."
Computers and smartphones might have their own standalone insurance you can get when you buy them. You’ll also want to check the credit card you use for the purchase because there might be some protections available.
Paley says having a backup plan for your situation might make sense if getting insurance doesn’t.
“The theft of personal belongings that are really important, especially for students, like a laptop or a bicycle...having a modest savings can help them make it through that period or perhaps start the purchase of a new item,” said Paley.
Madison says students should also register their bikes with campus police. At Sacramento State, students can register for free, and it increases the odds of police recovering it if it gets stolen.
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