Whether College students need renters insurance is dependent on where they are living. If the student is living at home or in on-campus housing they may be covered under their parent’s home or renters insurance. Many insurance policies include off premises theft coverage which would cover the student living in on-campus housing. Usually these policies have a cap on the amount of coverage that would apply to the coverage a college student would need if their belongings were stolen or destroyed. Check with your insurance agent to make sure you have the proper coverage.
Usually these policies have a cap on the amount of coverage that would apply to the coverage a college student would need if their belongings were stolen or destroyed and you should check with your agent for those limits.
As a college student if you live in a rented apartment, condo or house then your parent’s policy would not cover you. Also your landlord’s insurance on the building never covers your personal belongings. So if anything valuable is stolen or a fire destroys your belonging it’s your responsibility, not your landlords. Rental Insurance can also provide liability coverage in case someone is accidentally injured or property is damaged.
Don’t make the mistake though of thinking that Renters insurance is too expensive for students to afford. Many Renters Insurance policies are less than a dollar a day and can provide coverage for the thousands of dollars worth of personal property such as electronics, computers, furniture, bicycles, clothing and textbooks.
So if you or one of your loved ones is getting ready to head off to college this year contact your agent at Allan M. Block Insurance to discuss your current coverage and if Renters Insurance might be a good idea.