Go Off Campus > Student Renters Insurance Guide

Buying Student Renters Insurance

It's simple- your landlord's insurance only covers the building and their property. Everything inside your apartment or rented home is NOT covered. If you have a nice computer, sterero, tv, furniture, clothes, tools, etc. without renters insurance, all of your "stuff" will not be covered in case of a fire, flood, or buglary. And just because you're the most fire safe person in the world, don't forget that you are only protected to the extent that the people around you are also careful and safe. Apartment fires are not that uncommon and you are not protected unless you buy your own renters insurance. Roommates must generally have their own renters insurance policies.

Tip 1: Get When should I get renters insurance?

You can get a renters insurance policy anytime (so if you're living without one now, you need to get one ASAP!). To ensure that you are covered from Day 1 at your new home, you should get quotes and find a policy 2-3 weeks before your move. Your renters insurance policy can be setup to become active the day you move in. Also, check with the carrier whether they will cover your stuff while in-transit during your move.

Tip 2: How much does a Student Renters Insurance Policy
cost?

This depends on a lot of factors including your neighborhood, previous claims history, and the value of the items you want to cover. For a typical apartment with $30,000 of coverage, our staff has paid as little as $20 per month for coverage. You can get discounts for pre-paying for a whole year, so you should look into that.

Tip 3: Get enough insurance

This decision about how much coverage to buy should be based on the value of the items you wish to cover. If you apartment is destroyed, renters insurance should be sufficient to replace all your belongings. For a typical person, having at least $30k to $50k worth of electronics, furniture, and clothing would not be uncommon. You may need to get extra coverage (called a 'rider') for any unusually expensive jewelry, art, or other items. Tip 4: Document your stuff

You should make a video tape or take pictures of your valuables and store a copy someone off-site (not at your apartment). If you apartment is destroyed in a fire, this help prove that you owned your stuff, and expedite your reimbursement from the insurance company. Tip 5: Save money, get a high deductible

If all you really care about is protecting yourself from the "worst case scenario" (i.e. a fire), you can save substantially by requesting a higher deductible. A deductible is the amount that comes out of your pocket before the insurance company has to pay anything. If your renters insurance deductible is $1000, then you probably will never file a claim with your insurance company unless you have a really big loss (which is less likely than a smaller claim).