Baltimore Sun, Eileen Ambrose

"'…Even if a student is covered under a homeowner's policy, check the limits. Often policies cover electronics or jewelry only up to $2,500, which might not be enough for the entire family,' says Carolyn Gorman, a spokeswoman with the Insurance Information Institute. 'Parents might need to buy additional coverage.'

…There are a variety of personal property insurers that sell policies specifically targeted at college students. A typical policy at Fireman’s Fund Insurance (CSI), for instance, costs about $125 a year for $5,000 in coverage and a $25 deductible… The insurance company will pay the full amount of what it costs to replace items, even if they're old."