Fireman's Fund Insurance Company

July 23, 2007 14:00 ET

College Students Go Back to School This Fall with $10.5 Billion in Electronics; To Guard Against Accidents or Theft, Fireman's Fund Insurance Company Offers "Student Property Insurance Protector Plus"

NOVATO, CA--(Collegiate Presswire - July 23, 2007) - Parents are sending over 13 million students to college this fall with at least $10.5 billion worth of electronic equipment, only to have these gadgets dropped in toilets, put through the wash and run over by cars, among other unfortunate accidents.

With this in mind, Fireman's Fund Insurance Company has teamed with the leader in College Student Insurance (CSI) to offer a property insurance plan especially for students living away from home. "Student Personal Property Protector Plus" is an affordable product that protects the expensive belongings that are brought with students to campus each year. Student property is covered anywhere in the world against theft, accidental damage and more.

According to recent surveys of college students, 97% own a computer, 94% a cell phone and 56% an MP3 player. Moreover, a recent Alloy College Explorer Study found that 50% of college students own laptops while a COMPUSA survey revealed that 70% of students don't routinely lock up their laptops when the computers are not in use. Fifty thousand property crimes are reported on college campuses annually with burglaries estimated to occur every ten seconds.

Most students have anywhere from $5,000 to $10,000 in personal property while away at school, including electronic equipment as well as musical instruments, sports equipment, gaming devices, jewelry and other valuables. As a result, it is critical to have suitable protection for securing valuables from loss.

Many do not realize a college or university is not responsible for damage to or theft of student property and that their parent's homeowner's policy may not adequately cover such a loss.

"Parents often rely on their homeowners' policies to cover loss, but most policies carry high deductibles and won't cover all the risks a college student's property faces," said Jack Russell, national executive, Fireman's Fund Specialty. "By investing in student property insurance, parents will be able to save time and money if a loss occurs and the claims process is quick and easy."

"A smart investment for students and their parents is a stand-alone insurance policy to protect student property from a largevariety of risks. When you consider that some items - such as the new iPhone - are routinely stolen or can be accidentally damaged, it's important to have this type of coverage," said John Carr, president and founder of CSI.

Because the cost of a policy ultimately depends on the value of the property the student owns, Fireman's Fund and CSI created a personal property inventory manager to illustrate potential policy costs. Parents and student can go to the CSI simple inventory list, to determine how much protection they may need.

https://secure.csiprotection.com/collegestudentinsurance/step1.php

For more information, you can also visit the CSI website at http://www.collegestudentinsurance.com/

About Fireman's Fund

Fireman's Fund Insurance Company is a premier property and casualty insurance company providing personal, commercial and specialty insurance products nationwide. Fireman's Fund is a member of the Allianz Group (NYSE: AZ), one of the world's largest providers of property and casualty insurance and other financial services. For additional information, visit www.firemansfund.com.

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Contact Information

  • Fireman's Fund
    Janet Ruiz
    415-899-5381