Do College Students Need Renters’ Insurance?

Renters’ insurance covers both property damage and your possessions, in case they get damaged or stolen. It also has liability insurance, which will help you if anyone gets injured while they are visiting you. It will also cover your legal fees if you get sued. 

That being said, you may be unsure about whether you need to get renters’ insurance while you are away at college. Here are some things to consider when trying to make the right decision. 

Too many college students think that they are too poor to get renters’ insurance. However, that can be a mistake. Your electronics, clothes, and sporting equipment can often cost thousands of dollars to replace. If you can’t afford to replace them, you are going to want insurance so that you are able to. 

College students are often reckless, which leads to plenty of damage. This is especially true for those who have college parties at their place. People get hurt when they are drinking. Property damage is also very common at college parties. 

Though you may think that your landlord will protect you if something gets stolen or damaged, the truth is that they aren’t responsible. You are. Though they have insurance, it isn’t going to cover your possessions. 

Your parents’ homeowners’ or renters’ insurance policy may cover you when you are at college. If you live at home or in the dorms (or another school-owned property), their policy will cover you if you are listed as a dependent. However, if you live somewhere else, you will need your own policy. 

If you are wondering if you need renters’ insurance, don’t hesitate to contact us at Jim Boyce Insurance in Matthews, NC.