Do College Students Need Renters Insurance?

Starting college is an exciting time of transition in a young person’s life. In many cases, they’re going to be living on their own for the first time and experiencing a taste of adulthood. Before you send them on their way, you’ll want to make sure they’ve got everything they need.

Usually, the college checklist includes bedding, electronics, toiletries and other essentials. In many cases, though, you could be missing something important — a renters insurance policy. 

Renters insurance for college students is a great way to protect their belongings and ensure they can take on their semester worry-free. Students beginning college and moving away from home should consider getting renters insurance, depending on where they’ll live and what their parent’s homeowner’s insurance covers.

What Is Renters Insurance and What Does It Cover?

Renters insurance is similar to homeowners insurance, but it’s designed to protect people when renting a home from another party. When you rent a place to live — whether it’s an apartment, rental home or dormitory room — the owner of the property likely has insurance, but that insurance does not protect you as a tenant.

A renters insurance policy can provide coverage that protects your personal property from theft or accidental damage like fire and provides liability coverage for personal or medical liabilities. These policies may also cover additional living expenses if you’re forced to move temporarily while your home is repaired.

Renters Insurance for Students in Dorms

Students who live in on-campus housing like dorm buildings should consider a renters insurance policy as an extra safety net to protect their belongings. While these students are usually covered by their parent’s homeowner’s insurance, those policies may have caps or limitations that affect how much that coverage helps.

For example, many homeowners policies have higher deductibles that don’t help in instances of smaller on-campus theft. If a college student’s $700 smartphone is stolen, and their parent’s insurance policy has a $1000 deductible, then the insurance won’t cover the smartphone at all. A renters policy with a low deductible would be the better option to ensure that student has coverage.

Renters Insurance for Off-Campus Housing

Students who move into off-campus housing like fraternity and sorority houses or apartments should almost always get a renters insurance policy. In off-campus housing, students usually are no longer eligible for coverage through their parent’s insurance, and it’s up to them to ensure they have the protection they need.

Investing in a renters insurance policy is especially important for students living with several roommates as their insurance may help protect them from lease violations or unpaid rent.

Find the Right Coverage With Lewis Insurance and Financial

Knowing if your college student needs renters insurance and finding the right policy for them can be a challenge. Our experienced team at Lewis Insurance and Financial can help you consider your options and find the best policies to make sure your student is protected during their time away.

If you have questions about renters insurance for college students or you want to start your search for the right coverage, get in touch with our team. You can fill out our online contact form or give us a call at 717-872-2466 to speak with a member of our team.