COLLEGE DORM ROOM THEFT: ARE YOU COVERED BY INSURANCE?

New York, NY, July 9, 2003 -- More than 20,000 theft-related crimes are reported by the country’s four-year colleges each year. And if you have college-aged children heading off to school this fall, you should know that all the personal possessions you’re carting to the dormitory or rental building generally aren’t insured by either place.

That’s right. Computers, stereo equipment, DVD players, jewelry, musical equipment and clothing are the responsibility of the owner. And unless your homeowner’s policy provides generous limits for property at another residence, such as a dormitory, you may stand to lose thousands of dollars in possessions as a result of theft.

"Securing valuables should be a main concern in an environment where undergraduates and other visitors frequently come and go," emphasizes Daniel H. Olmsted, senior vice president, Personal Lines Division, Atlantic Mutual Insurance Company. "Parents should check their homeowners insurance to see if it covers personal property at another residence and if the amount is sufficient to cover a student’s total possessions."

Compact electronic equipment, especially laptop computers and other wireless communication gadgets are particularly vulnerable for theft, explains Olmsted.

In addition to making sure possessions are insured, Atlantic Mutual suggests the following tips to protect valuables:

  • Record the serial number of all valuables and engrave them with your name or student driver’s license number
  • Secure and lock all room doors and windows when leaving for class
  • Do not leave backpacks, books or other valuables unattended
  • Remove valuables at school when away for an extended period of time such as winter or spring breaks.

"For the most beneficial insurance protection," Olmsted recommends, "make a separate itemization of valuables and choose a specific dollar amount to cover each one. That way if the laptop computer, for example, is insured for $3,000, your insurance will pay $3,000 to you if it is stolen or destroyed."

About The Atlantic Companies

The Atlantic Companies, also known as Atlantic Mutual, is a group of diversified financial services companies with a Wall Street heritage dating back to 1842. The group is widely known for the Atlantic Master Plan insurance program, which is designed specifically for affluent individuals and sold through a select group of independent agents. The Atlantic Companies acts as a property-casualty insurer, manages claims for commercial insurance, and helps other business partners target profitable niches in the insurance marketplace. Additional information about The Atlantic Companies and the Atlantic Master Plan can be found at www.atlanticmasterplan.com.


Contact: Peter G. Scott
Corporate Marketing & Communications
973-408-6044