Many college students are in an in-between stage where they are no longer children but are not yet fully independent adults. If they live apart from their parents, they need renters insurance to guard their belongings against destruction and theft. Although you may not feel like your child has many valuable items, laptops, computer games, handheld devices, and even clothing can quickly add up if they need to all be replaced at once. Below is an introduction to when and why college students need renters insurance. 

Why Do College Students Need Renters Insurance?

On-Campus Housing

Students who live in a college dormitory or other school-provided housing and are listed as a dependent on their parents' property insurance are likely still covered by that policy. However, many policies limit the amount the insurer will pay for losses that aren’t on the premises to 10% of the policy’s total personal property limit. In other words, you may not receive the full claim value for items stolen or damaged while you are on vacation, while they are in a self-storage unit, or while they are in a dorm room. 

Off-Campus Housing

Even if your child is listed on your homeowners policy as a dependent, your insurer will almost certainly not cover losses that occur in their off-campus apartment. Also, be aware that the landlord's property policy won't cover renters' personal property losses, either. Landlord policies typically only cover the structure of the building and any equipment or tools used to maintain or run it. Thus, to protect your child's property, they need a renters insurance policy of their own.

What Renters Insurance Covers

A renters policy covers damages caused by fires, storms, vandalism, falling objects, as well as losses due to theft. It also provides personal liability coverage, which pays for repairs, medical costs, and legal fees if your student should accidentally injure someone or damage their property. Lastly, it pays for hotel expenses, restaurant meals, laundry, and other costs above and beyond normal expenditures if their rental unit should become uninhabitable due to a covered event. 

To speak to an experienced agent about the perfect renters insurance policy for your college student, contact Area Wide Insurance Agency in Naples, TX. They have served clients in and around Morris County for more than 35 years, specializing in auto, home, renters, and life insurance. Visit their website to reach out to them online, or call (903) 897-5651 to request a quote.