Notebooks, textbooks, pencils, and calculators. College students all over the country are likely collecting these school supplies plus others as they prepare for another fall semester. But there’s one item that many collegiates overlook. Renter’s Insurance.
Who Need’s Renter’s Insurance?
Renter’s Insurance- who needs it? Great question. If you’re a college student (or more likely, the parent of a college student), then maybe you do.
College students often carry many valuable items with them into their new dorms and apartments. Laptops, furniture, textbooks, jewelry… the list goes on.
And let’s be honest, college residences are often a little more mischievous than the suburbs. Students are often more at risk for theft or accidental loss than some other stages of life.
If you are renting your living space this year and want to be protected, then renter’s insurance is for you. Although renter’s insurance is not required by law, many complexes and landlords require renter’s insurance as part of the lease agreement.
If you are renting a privately owned living space then the landlord’s homeowners insurance can account for damages to the building, but would not cover your personal belongings. Renter’s insurance is the only way to assure that you are protected from personal loss and liability.
What Does Renter’s Insurance Cover?
Renter’s insurance covers the loss of personal property in the event of theft, loss, property damage and personal liability. Your personal belongings would be covered in the event of unfortunate circumstances such as burglary, fire, flooding, an accident, etc.
Depending on your policy, it is also possible that your renter’s insurance would also cover the cost of a temporary replacement of living accommodations in the event it is necessary to relocate due to damages to your rented space.
How Much Will This Cost Me?
Renter’s insurance is one of the most affordable policies in the business. It is often between $10-$30 per month. The cost of the policy varies based on location and amount of coverage included in your policy.
Another factor to consider that may impact your policy cost is the amount of your out-of-pocket deductible. Make sure you ask your agent about your deductible options in the event you need to access your coverage.
If you already have a renter’s insurance policy but have changed residences since last school year, be sure to call your agent and have your address changed and policy re-evaluated. This ensures your property will still be covered- and you never know what kind of savings may be in store based on your new location!
Are you headed back to school and interested in making sure you and your belongings are protected? We’ve got you covered! Contact Henry Insurance Services today to learn how we can help you bundle your insurance policies for the most affordable Renter’s coverage available. We’re here to help!