In college and living off-campus: Should I get renters insurance?

June 1, 2009

If you are a college student living off-campus, you should purchase renters insurance, regardless of where you go to school and/or what kind of building you live in. Living on-campus generally comes with the added security and full support of your school should something happen in your dorm room or campus apartment. Living off-campus, however, presents its own set of risks and challenges.

One of the main reasons for purchasing renters insurance, if you’re living off-campus, is that off-campus housing is usually not associated with your school. Therefore, the school has no legal obligations or responsibilities for the property. This means your school is not responsible for maintaining a safe, clean and secure environment for you. Security at your off-campus housing is most likely different from on-campus security. If a break-in or fire occurs at your off-campus housing, your school cannot be held responsible. Having renters insurance can help protect your belongings in the event of fire, theft, vandalism, burglary, windstorms, and other events.

A renters insurance policy is generally inexpensive, and you can select higher or lower levels of protection with varying deductibles and rates. To ensure that you are adequately covered, you should take an inventory of your belongings, including clothes, valuables, electronics, and furniture. This helps you determine the level of protection you may need. To help determine the amount of coverage that’s right for you, try our renters insurance coverage calculator.

In the event of a loss such as theft or a fire, you should contact your renters insurance company. They may or may not send out a representative or request photos. The company will request a list of the items damaged or stolen. Therefore, it is very important to make sure you fill out your renters insurance forms accurately and update them yearly to reflect your current items (and dollar value) in your off-campus housing. Creating an accurate inventory of your belongings will help get your claim resolved quickly and easily.

The biggest advantage to renters insurance is that it can give both you and your parents peace of mind; theft and fire can happen to anyone and students living off-campus are often at a greater risk for break-ins then those living on-campus. Take a few minutes to get a free, no obligation renters insurance quote from Homesite and see just how affordable our rates can be.

Take a few minutes to get a free, no obligation renters insurance quote, and see just how affordable our rates can be.