Why College Students Need Renters Insurance

When heading off to college there are a lot of things to think about.  Finding a place to live is high on the list. Whether you opt for dorm or off-campus housing, you are going to need to buy some things or take them from home.  A laptop, school supplies, and television are standard big-ticket items.  Your new college space may also need dressers, a couch, and a mattress.  The amount of “stuff” you need to live away from home adds up quickly.

That is why you should really consider renter’s insurance. Here are some reasons why.

It might be cheaper than you think.

Renters insurance is often inexpensive.  An average policy is typically under $200 per year.

Everything that you have adds up.

From small accessories to big-ticket items, your stuff accumulates quickly. Your television, computer, laptop, printer, and furniture can cost several thousand dollars. If you are a gamer, you may have a game system, good speakers, and other expensive gear. You may have a good camera and other possessions that you don’t want to leave at home. All of these items add up (and quickly).

You may not have the money to replace all of these items. 

Most college students don’t have a lot of extra money.  It is much cheaper to have the insurance than it is to replace everything you brought to college.

You probably aren’t covered under your parent’s insurance. 

Unless you live in the dorm and your primary residence is still your parents’ house, your belongings probably won’t be covered under your parent’s homeowner insurance policy. If you are on your own, you need to be protected.

Your parent’s homeowners policy might have a high deductible.

Even if you are covered by your parent’s insurance policy,  it may not help you out when you need it. Most deductibles are pretty high, so they might not cover your two-hundred-dollar television. If the deductible is five hundred dollars, you will have to pay for a new TV out of your own pocket.

Most renter’s insurance deductibles are much lower, making it a more affordable option for you.

You may be required to have renter’s insurance. 

Many apartment complexes require all tenants to have renter’s insurance for everyone’s safety and protection. Likewise, you may not be allowed to move in until you can show proof of insurance.

Though you may not want to spend any extra money on renter’s insurance, it is usually a great idea. This is especially true when you start to think about how much stuff you really have. A laptop and some furniture can really add up. There are times when it is worth getting your own policy!

If you want to make sure that you and your belongings are fully protected, don’t hesitate to contact us today. We will be glad to talk to you about all of your insurance needs and wants to find a policy that you need.