Off-Campus Housing: Renters Insurance For Students

By Meha Ahmad, InsuranceAgents.com Staff Writer

Finally out of their parents’ home, out in the world and ready to start a new chapter in their educational career, college students may not realize they have a lot to lose, particularly if they move out without obtaining renters insurance. College students typically live in the dorms or rented spaces off campus. And while no one knows when or how disaster will strike, it’s best to prepare for the worst and protect what is most valuable. With the right amount of renters insurance, this protection is easy to obtain. To find easy-on-the-wallet coverage, compare renters insurance quotes using our quick online quote forms where you can compare up to five quotes.

Why College Students Need Renters Insurance

Where there is a college student, there is usually a laptop (or computer, printer, etc.), television, MP3 player and other electronics, over-priced textbooks, clothes and jewelry not too far away. Replacing any one (or even all) of these personal belongings can add up to more money than the student or their parents can afford to replace. And why should they, when student renters insurance can be so affordable, even as little as $10 or $15 a month?

Do not make the mistake of failing to purchase renters insurance. You may make the assumption that your landlord or building association’s insurance will cover you if you need to file a property or liability claim. But only renters insurance will do that. The landlord’s insurance might cover your unit, but it won’t cover your personal belongings, like electronics, clothes, and furniture.

Coverage Offered By A Reliable Renters Insurance Policy

Talk to your renters insurance agent about the coverage options on your renters insurance policy. Coverage should include the following (and if your renters insurance policy doesn’t include the following coverage, talk to your agent and correct that mistake immediately!):

1. The students’ belongings will be covered everywhere, not just in the apartment or dorm. Renters insurance coverage will extend across the globe—your stuff can be covered even if it’s damaged/stolen in your car, on vacation, in a storage unit, etc.
2. Replacement coverage on your renters insurance policy means your provider will fully cover any property loss a college student suffers, whether it’s from theft, plumbing, severe weather, fire, vandalism, falling objects, or electrical or smoke damage. Flood coverage, however, must be purchased separately.
3. Liability coverage is particularly important to have on a reliable renters insurance policy; if someone is injured or suffers property damage/loss while at your home, liability coverage will cover you if they file a medical expenses claim or lawsuit against you.
4. Temporary/additional living expenses will be reimbursed to you by your provider if you have to find temporary residence while your unit is being repaired, or if there is a heavy amount of theft occurrences at your property.

By obtaining a solid renters insurance policy, college students can rest easy knowing that they are not facing a huge risk of financial loss. Renters insurance is both necessary and affordable coverage. To find a policy and price you are comfortable with, shop online using InsuranceAgents.com's forms where you can compare rates for renters insurance quotes.

Published: Monday 14th September 2009