Consider insuring your valuables (electronics, musical instruments, etc.) following these steps:

1. Check your (parent’s) homeowners insurance policy

Coverage usually extends for laptops, digital cameras and other electronic equipment for the specific perils named in the policy, including theft, fire, electrical surges, and water damage. Harsh use is generally not covered.  Remember that deductibles apply so if you have $1,000 deductible and the computer is worth $800 there is no need to file a claim. If the computer is worth more than the deductible it still may not be prudent to file a claim. If replaced, it needs to be of like quality and specification.

2. Add a “rider” to your homeowners insurance policy

A "rider" is an additional set of terms and conditions that “rides on” the basic package offered by the insurance company. A rider can be added to cover specific equipment or valuables.

3. Purchase a separate “personal articles” insurance policy

Supplements coverage for possessions of higher monetary value State Farm Insurance offers a general Personal Articles policy, and College Student Insurance offers a policy specifically designed for college students both at home and while traveling. Deductibles range from $0-$100.In all cases, try to get an official report documenting the loss to substantiate your claim.