College Students: Is Renters Insurance Necessary?
Don’t Forget Renters Insurance When Sending Your Student to College
As a parent, watching your child head off to college is a major milestone—filled with pride, excitement, and let’s be honest, a bit of worry. You’re doing your best to set them up for success: tuition’s paid, schedules are set, supplies are packed. But there’s one box many families forget to check before move-in day:
Renters Insurance
Whether your college student is moving into a dorm or off-campus apartment, renters insurance is one of the most important and affordable protections you can put in place. It helps cover losses from theft, damage, or liability—and provides serious peace of mind for both students and parents.
Let’s unpack why it matters, how it works, and what you need to get started.
Will My Homeowners Policy Cover My College Student?
This is a common question—and the answer depends on where your student is living:
- Dorm Life: If your student is living in a campus dorm and is still listed as a dependent, your homeowners insurance may provide limited protection—typically around 10% of your policy’s personal property coverage. That’s helpful, but it’s often not enough to fully replace electronics, clothes, or essentials if there’s a major loss.
- Off-Campus Housing: If your student is renting an apartment or house off campus, your homeowners policy likely won’t apply at all. In this case, renters insurance becomes the only reliable way to protect their belongings and manage risks like liability and temporary housing costs.
What Does Renters Insurance Actually Cover?
1. Personal Property Coverage
Covers the cost to replace belongings that are damaged or stolen due to:
- Theft (including car break-ins)
- Fire and smoke
- Water damage (from plumbing—not floods)
- Vandalism
- Some natural disasters, depending on the policy
Think about the cost of replacing a:
- $1,000 laptop
- $800 phone
- $300 bike
- $1,000 worth of clothing and shoes
Renters insurance protects thousands of dollars of value—for less than a dollar a day.
2. Liability Coverage
Accidents happen—especially with new independence. Renters insurance covers:
- Legal fees and court costs if your student is sued
- Medical bills if someone is hurt in their apartment
- Property damage caused to others (e.g., flooding the unit below due to a sink overflow)
This protection can prevent one mistake from turning into a financial crisis.
3. Loss of Use (a.k.a. Additional Living Expenses)
If the rental becomes unlivable due to a covered event (fire, storm damage, etc.), this coverage helps pay for:
- Hotel stays
- Meals
- Temporary housing
It keeps life moving when your student can’t stay in their rental.
How Much Does Renters Insurance Cost?
Most policies fall between $15–$25 per month, depending on the location, coverage limits, and any extras (like identity theft protection or high-value item riders).
In many cases, it costs less than replacing one stolen phone or lost backpack—making it one of the best values in insurance.
How to Get a Quote for Renters Insurance
Getting covered is quick and easy. Here’s what you’ll need:
- Rental Address – Where your student will be living.
- Estimated Value of Belongings – Include electronics, clothing, furniture, etc. A ballpark figure is fine.
- Move-In Date – Usually aligned with the lease start date.
You can get a quote in under 5 minutes, and coverage can often start the same day.
Why Parents Should Care
Sending your student to college isn’t just about academics—it’s about helping them become responsible adults. Renters insurance reinforces that transition while also giving you confidence that they’re protected.
Think of it as an investment in their independence:
- You won’t need to scramble to replace stolen electronics.
- You’re not financially liable if they cause an accident.
- You’re modeling smart, responsible risk management for them.
In short, you’re protecting your peace of mind, too.
Don’t Leave Their Belongings—and Your Finances—Unprotected
College life comes with enough surprises. Don’t let an avoidable incident derail your student’s year. Renters insurance is simple, affordable, and smart.
Want help with a quote?
We’re here to make it easy. Click here to get started.
Or give us a call at (502) 413-5335 — we’ll walk you through everything step by step.
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