Most college students typically bring expensive items such as laptop computers, video gaming systems and smart televisions to school. Renters insurance protects you from having to pay out of pocket to replace your stuff if it’s ever stolen, vandalized or damaged in a fire.
College students living on campus may be covered under their parents’ homeowners or renters insurance policy. Some insurance policies do offer limited coverage protection for students living in an apartment or dorm at school. It’s wise to have a good understanding of your policy options and coverage limits for personal property to protect yourself from risks.
The same scenario isn’t true for college students living in an apartment or sharing a house. You will most likely have to get your own renters insurance to protect your property and personal belongings. Most landlord policies only cover the basics, which includes the building structure, loss of rent and liability protection for the building’s owner.
For an affordable price, renters insurance provides multiple coverage options for personal property, liability, medical payments, coverage for living expenses when your home is not fit to live in due to a covered loss, and optional coverage for more valuable items.