Do College Students Need Renters Insurance?

College student in apartment

You’ve already had your first taste of freedom by leaving your parents’ nest to go to college. Now, most of your concerns have to do with finishing that paper that is due in a week, getting good grades in your Universal History class, and socializing to expand your circle of friends. But while you’re juggling with all the novelty that comes with going to college, you may want to also consider taking care of your possessions.

You’ve already furnished your dorm or apartment and have probably purchased a TV, a Blu-Ray player, a laptop, a printer… and all the basic necessities to survive your college years.

Are Your Items Protected if You Leave Your Place?

Determining whether you need renter’s insurance, depends on where you live, if you're staying in a dorm or living off-campus. It’s important to check if your parents’ homeowners' insurance will help cover your belongings as well. Some insurance companies may include it if you’re listed as a dependent, are under 26 years of age, and live in a dorm.

But, to be sure, talk to your parents about their homeowners' insurance to learn about any coverage options that may be extended to you.

What if You Live in an Off-Campus Apartment?

If this is the case, your parents’ policy may not extend to cover your belongings, but you may want to check with your insurance company first.

This might be a good opportunity for you to get Renter’s insurance. Not only will your belongings be covered if they’re damaged, lost, or stolen by a covered loss up to the limit on the policy; it may also help protect you and anyone who got hurt at your place. What this means is that your insurance company would help you with any medical-related expenses as well as potential lawsuits.

What Items are Protected by Renter’s Insurance?

You’re probably surprised now looking around your apartment at your possessions. Imagine losing all of that overnight. With Renter’s insurance, the following items in your apartment may be covered: gaming systems (Xbox, PlayStation), computers (Desktop, Laptop), smartphones/cellphones, TVs, DVD-Blu Ray players, jewelry… and yes, your bed or futon too.

If you have a bicycle or skateboard as a means to commute to campus, those could be covered by your Renter’s insurance as well.

Now it would be a good time to keep an inventory of all the items you have at home, just in case. Keep all receipts of items and take pictures to help with documenting your losses, should such need arise.

Is it Difficult to Obtain Renter’s Insurance?

No, it’s actually really easy and affordable. Renter’s insurance is one of the cheapest policies to obtain at just above $130 a year. Considering the average renter owns $20,000 worth of belongings, it might be a good idea to get Renter’s insurance today.

You have enough to worry about with papers, deadlines, and mid-terms. Don’t let the possibility of losing your possessions keep you from sleeping at night.

Our friendly agents at Infinity Insurance Agency, Inc. will walk you through the process of obtaining Renter’s insurance through affiliated insurance companies. We have searched for great providers in the country, and we will gladly speak with you to provide you with the best options that adjust to your budgets and needs. You may call us today at 1-800-INFINITY or visit our website to get a quote today.

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