It’s one of the greatest moments in a person’s life. Going to college for the first time. Living in a dorm, or getting that first too-cool apartment off campus. You’re thinking about a million things at once, and your to-do checklist seems a mile long.
Make sure one of the things on your checklist is “Look into renter’s insurance.” Many landlords require that you have it and, even if they don’t, it’s simply a smart idea. Here are some of the most important things you need to know about it.
Protecting Your College-Bound “Stuff”
in Your Campus Dorm
Since you probably are bringing expensive “stuff” with you—your smartphone, laptop, TV, clothing, etc.—you need to make sure those things are insured. If you’ll be living (either initially or long-term) in a dorm, and you’re under 26 years of age, your belongings may be covered under your parents’ homeowner’s or renter’s insurance policy. We strongly advise you to check with your agent to be sure.
Also, be aware of coverage limits that may apply. Some policies limit coverage for possessions while they are away from the policyholder’s home. And specific kinds of items, such as laptops, may have additional coverage limits, too. If you’re worried that the policy’s limits aren’t enough to cover your possessions while at college, ask your agent about adding “floaters” (scheduled personal-property coverage), to better cover certain valuables.
Your Cool, Off-Campus Apartment
If you choose to live off-campus in an apartment, your parents’ insurance probably will not extend to any possessions you bring with you. That’s why—even if your landlord doesn’t require it—we strongly advise that you acquire your own renter’s-insurance policy. You’ll enjoy hearing these policies are typically quite inexpensive. And they are an excellent way to help protect your belongings should they be damaged or stolen. (Be sure to ask your agent, up-front, what specific situations your policy will cover, such as fire or theft.) Your renter’s policy will also typically provide liability coverage, which will protect you and your wallet if you are found legally responsible for damage to your landlord’s property, or for someone else’s injuries.
We hope you thoroughly enjoy your college classes, friendships, and all the experiences that make higher education such a wonderful, enriching time. If you need renter’s insurance because it is mandated and/or to ensure greater peace of mind during your college years, A2Z is always here to help you get exactly the coverage you need.