A college student who is living off of campus should have a renters insurance policy just like any other type of renter. In fact, since the big move to an apartment is many college students’ first experience living independently, the need for insurance may be particularly important. It’s practical to protect a student from any liability relating to any number of things that could go wrong inside of a rental unit. Moreover, students may be living with similarly situated young adults, and they could ultimately face damages or liability caused by a roommate.
Coverage for college renters can protect their personal property within a rental unit if it is lost or damaged. Likewise, a policy can insure an individual for damages caused to the rental unit itself.
A renter could be liable to his or her invitees if an accident occurs in the unit. In addition, he or she could be liable to other residents in the building if an accident in the unit such as a flood or fire caused by negligence damages their personal property.
Renters insurance helps a new renter to be prepared for many different types of scenarios that could result in significant liability. It’s advisable to get an expert opinion about what type of coverage levels a renter needs as well as key policy inclusions and exclusions.