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Renter’s insurance. A smart choice for college students

Posted by Scott Stueber on Aug 18, 2015 9:00:00 AM

apt-for-rent-signTomorrow my wife and I will move our daughter into her college dorm. We’re all excited for this new adventure, and due to my wife’s planning and organization, it should go very smoothly. Your new adventure, however, may be moving your college student into his or her first apartment.

While a homeowner’s policy may provide some content coverage for kids living in a college dorm, living in an apartment brings about a new set of issues. Here are some common reasons why parents and students may underestimate the importance of renter’s insurance.

1. I’m a poor college student. We’ve all heard or used this statement before. Many think because they’re in college, they don’t have anything valuable to insure. I challenge you to take a moment to think about this. If you walk from room to room, your college student may have more valuables than you think. From the collection of video games, to big screen TVs, to a designer wardrobe, things add up. A renter’s policy protects their personal property from perils of wind, fire, theft, and vandalism. It also provides some liability coverage if a friend trips and falls in their apartment. To learn more about renter’s insurance, contact your independent insurance agent.

2. It’s my landlord’s responsibility. Most landlords’ insurance covers only the building, not what’s in it. So if there’s a fire or tornado, your landlord will be insured, but you’ll be left high and dry. That’s why you need renters insurance.

3. I can’t afford it. When you look at the total cost of college, renter’s insurance is one of the least expensive things you’ll buy, and it will provide you with valuable protection. A policy may cost $180 - $240 a year. Here are some factors that may affect your premium.

  • Amount of coverage needed;
  • Type of coverage selected;
  • Your deductible (the higher the deductible, the lower your premium); and
  • Location.

4. It won’t happen to me. A lot of times we think it will never happen to us or our kids. Unfortunately, bad things happen to good people. A renter’s policy can help college students get back on their feet if a fire destroys their rented home or apartment.

For more information on renter’s insurance, visit Trusted Choice.

West Bend's Home and Highway® policy, however, has no coverage restrictions in this situation as long as the student meets the definition of an "insured," and is enrolled as a full time student.

Do you have any tips you’d like to share? I’d love to hear them; please share them in the box below.


This article is intended for general educational and illustrative purposes only and should not be construed to communicate legal or professional advice. Further, this article is not an offer to sell insurance. Please consult with your licensed insurance agent for specific coverage details and your insurance eligibility. All policies are subject to the terms, conditions, limitations, definitions, and exclusions contained therein.

Topics: Home Insurance, Renter's Insurance

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