The rush is on to get everything ready as students head back to college. If yours are moving into a place of their own, don’t forget to purchase renters insurance to protect all the special items that make the new place their home away from home.
Here are some important reasons why renters insurance is a necessity for your college student(s):
1. College kids have more these days: books, bicycles, TVs, computers, tablets, gaming systems, smart phones, sound systems, clothes, bedding, furniture and kitchen items. Replacing those items if they were stolen, damaged or destroyed in a fire could add up to tens of thousands of dollars. Renters insurance also pays for temporary living expenses, like a hotel room, while their room or apartment is repaired.Renters insurance also pays for temporary living expenses, like a hotel room, while their room or apartment is repaired.
2. While most students who live in a dorm have personal property coverage under their parents’ homeowners insurance, once they move into a place of their own they usually need their own renters insurance policy.
3. A landlord’s insurance policy won’t cover your student’s belongings. The landlord’s insurance protects the building and only pays to fix walls, roofs, etc., not any of your kid’s contents.
4. Renters insurance provides liability coverage if someone gets hurt at your student’s apartment. It helps pay for medical expenses and other costs, like legal fees, if the injured person sues.
5. Renters insurance is a great value. On average, it costs between $10 and $20 a month, or about $200 a year. That’s less than most people spend each month for cell phones or the cable bill.
TAKEAWAY: Learn how renters insurance will cover your college student’s belongings by contacting one of our advisors at 1.800.800.9410, or visit www.calcas.com/renters-insurance.