5 Vital Reasons Why College Students Need Renter's Insurance

September 1st, 2014  |  Home Insurance

Whether you are going back to college or getting ready to embark on your first year in college away from home, there is no doubt that getting ready for the school year is a busy time. Amid moving to your rental apartment or dorm for the year, getting school supplies, buying books, and working out your school schedule for the semester, one thing that all college students need to seriously consider is a renter’s insurance policy.

Most students are bringing thousands of dollars of personal property with them when they go away for college. They typically bring a laptop or computer, television, smartphone, and many other expensive electronic devices, not to mention other personal items such as clothing, jewelry, and other items. For this reason alone, having renters insurance will ensure you can recover these items if anything happens to them. 

Why You Need Renters Insurance

There are many valid reasons why college students should look into rental insurance options. They include:

1. Your personal items are not covered by your landlords insurance policy
2. Students are on a limited budget and cannot afford to replace lost, damaged or stolen items
3. Living with roommates and in student housing can be risky, especially if you do not know your housemates well
4. Renters insurance is your best form of protection from a variety of threats
5. Depending on where you go to school, you may be exposed to threats such as water damage, storm damage, and other weather related issues

Tips for Choosing a Renters Insurance Policy for College Students

If you are interested in looking into your renters insurance options, make sure you take into account the following tips and advice:

• Check with your parents insurance policy – You may already be covered
• If you are living off campus with a number of roommates, you may be able to get a policy together
• If you have car insurance, look into the option of bundling your renters insurance with your current auto insurance policy
• Get a quote for renters insurance and explore your options before making a final decision

Did you have a renter’s insurance policy when you went to college? Do you have college kids? Do they have renters insurance? What tips can you offer to students going away to college this year?