Renters insurance is an often-ignored college essential many forget about until it’s too late. Whether you’re the parent of a college student or the student yourself, you should consider purchasing a renters insurance policy. Your belongings are at risk whether you live off-campus or in a dorm and it’s better to be over prepared than to have no protection against theft, fire, injury and property damage.

Unfortunately, crime and pranks are common occurrences in college towns. Renters coverage not only protects your belongings but protects you or your student from being financially liable in the event of a bodily injury or any damage that occurs on the property.

A common misconception about living in an apartment or student housing is that you will be covered by your landlord’s insurance if something happens. This is not necessarily true. Your landlord’s insurance will not cover the replacement of your property, your living expenses if you have to move out during repairs or any injuries that occur in your residence. Having your own renters insurance policy is the only way to make sure that you are covered.

Which Students Need Renters Insurance?

The following students should consider purchasing renters coverage during their time at university.

• Students that live in dorms
• Students that live in off-campus housing such as apartments or rental homes
• Students that cannot afford to replace their laptop, schoolbooks, tablet or phone

 If you live on campus, you may have some coverage through your parents’ home insurance policy, but you should check with their insurance agent before assuming you are covered. Even if you are covered, the policy limits may be drastically different than if you had your own renters policy. Depending on the claim, you may not reach their home insurance deductible and end up paying for everything out of pocket. With renters insurance, deductibles are typically lower and easier for a college student to meet as well.

The Risks of College Living

College can be a fun, new experience where you make memories that will last a lifetime. However, college life is not without its risks. Dorms and apartments are not always secure.

Theft is common in colleges with high ticket electronics in almost every residence. Laptops, tablets, televisions and phones may be stolen, even by a roommate. Renters insurance can protect you in the event you need to replace your property. Jewelry, furniture, clothing and electronics are just a few items that would be difficult to replace without help. These items may also be replaced in the event of a disaster, such as fire or water damage.

Injury is more common on college campuses than you may think. If a friend falls and hurts themselves in your apartment, you could be liable for their injuries. College students have a hard-enough time affording ramen noodles and toilet paper, let alone have enough money to pay for legal fees or someone else’s medical bills.

Vandalism happens. While unpleasant, it is a reality in life. Say you live in an apartment and someone comes into your room and sprays graffiti all over your walls and personal belongings and smashes your computer. Unless you have a significant amount of money saved, you may have trouble replacing and repairing your items before your next assignment is due.

Work with an Independent Agency

One of the biggest benefits to working with an independent agency is our ability to shop around and find the best policies at the best price points. No matter what you are looking for, we can offer you more options than a captive agency.

Have questions about renters insurance? We’re here to help. Our agents know the ins and outs of college life and coverage options not only because it’s our job but because we are the parents of college students, too.

We will work with you to figure out how much coverage you or your student needs. This is done by determining the monetary value of your property. We will also discuss if any additional coverages are right for your depending on your specific needs and lifestyle. Give us a call today at 770-339-0447 or email us at email [at] cowartinsurance [dot] com