By: Owen Shotkoski
With move-in day and new classes around the corner for most incoming students, the excitement can sometimes lead to turning a blind eye towards insurance. Renters insurance is an important way to make sure your child’s belongings are secured at their newfound home.
What is Renters Insurance?
Renters insurance provides liability coverage and protects your belongings while you are renting out a space to live. It can also provide additional living expenses (if the home becomes uninhabitable, this would help cover those new living expenses). The insurance purchased by the landlord typically covers the building itself and not tenants’ personal items.
If your laptop, furniture, clothing, electronics, or other belongings are damaged or stolen, depending on your policy, renters insurance would assist you in replacing those lost items.
Why is Renters Insurance Important for College Students?
I did not have renters insurance when I was in college, and I think it was a big mistake. I had all my personal items, including:
- Clothing
- Furniture (Bed, dressers, nightstand, kitchen table, and sectional)
- Electronics (School computer, TV, and gaming devices)
These items can bear quite the burden to replace. Looking back, if I had known renters insurance was an option, I would have looked into it immediately!
What About Parents’ Homeowners Insurance?
Some students may have coverage under mom and dad’s insurance policy. This depends on circumstances like the living situation and the specific policy.
If your student is renting an apartment or house off campus, don’t assume they’re automatically covered. Check with an insurance agent for that extra bit of assurance.
How Much Does Renters Insurance Cost?
One of the major advantages of renters insurance is its relative affordability compared to the burden of replacing belongings.
The price is dependent upon factors like your coverage limits, deductible, location, among others. Your insurance agent can take your input and make sure to provide coverage that best fits your needs.
Ready to See What Coverage You Need?
Contact Rock Island Insurance at (573)-557-9888 to ask any questions regarding insurance. You can call that number or click here to receive a quote. Thank you for reading!