Dorm insurance can protect against flood, theft in college housing

Before your students rush back to college, make sure all those new dorm room purchases are covered.

On pretty much any college campus move in day, you see a lot of hefty bags full of belongings – and, of course, parents, tired of lugging it all into the dorms.

The price of all those valuables really adds up.

If something happens, such as a freak accident like a flooded dorm, a theft or loss – is all that stuff covered?

Parents often don't think about dorm insurance. But add up what it would cost to replace a laptop, tablet, other electronics – even clothing and shoes – it might be worth considering.

Consumer Reports says dorm insurance can be a good option. A $5,000 policy with a $25 deductible might cost about $140 a year.

Students who live off campus will need a renters policy. Premiums vary based on the amount of coverage, but usually cost $10 to $22 per month.

The potentially high price tags on those might warrant the extra coverage.

Flooded dorms and theft are more common than many parents realize, so, as with all insurance policies, experts recommend assessing the true value of your student's belongings before packing up.