Renters Insurance for College Students: Why It’s Worth It

Heading off to college is an exciting milestone, especially for students who will be living on their own for the first time. While finding the right apartment and settling into a new routine are top priorities, it’s just as important to think about insurance. You may be surprised to learn that your landlord may not guarantee coverage for your personal belongings and liabilities, potentially necessitating renters insurance.

What Does Renters Insurance Cover?

Renters insurance can offer many familiar financial protections as home insurance, but accounts for buildings and common areas typically being covered by the landlord or property owner’s policies. With this in mind, a standard renters insurance policy may include coverage for the following:

• Personal belongings, such as laptops, textbooks, furniture and clothing, in case of theft, fire or certain types of water damage
• Liability protection, including if a classmate is injured in your apartment, you cause damage to a neighbor’s property or are otherwise at fault for other parties’ losses
• Additional living expenses, should a covered incident, such as a fire, force you to temporarily vacate the premises and arrange alternative accommodations

Is Coverage Required?

Although renters insurance is not typically required by law, many landlords may require coverage before allowing you to move into your new home. Failing to abide by these mandates or allowing coverage to lapse could jeopardize your living situation and lead to eviction. Even in the absence of formal obligations, renters insurance is an advisable investment to help students and parents alike feel a sense of financial security.

How Our Team Can Help

At Zenitram, we guide students and families through the process of choosing the right renters insurance policy. We’ll help assess your situation, explain your coverage options, answer questions and help you find coverage that fits your needs and budget.

Contact our team today to learn more or get a free quote.

This blog is intended for informational and educational use only. It is not exhaustive and should not be construed as legal advice. Please contact your insurance professional for further information.