Your college students can greatly benefit from renters insurance, however they may be covered under your policy. If they are attending college while living at home, they are generally covered by your homeowner's policy. If they live in on-campus housing, they will usually be covered with a cap. If your student has expensive computers, jewlery or electronics you should check with your agent regarding the limits in coverage.
If your student is in an off-campus house or apartment, your policy will not cover their loss. They would need a policy in their own name. If they have roomates, they may be able to purchase a policy together. These policis are very affordable and worth the investment of around $200 a year.
Renter's Insurance covers:
1. Personal property in the case of loss, theft or natural disaster. (not flooding or earthquakes)
2. Liability if someone gets hurt while visiting
3. Additional living expenses for temporary housing and meals if you can't live in your rental while covered damages are being repaired.
Call our personal lines agent Narine today to find out if renter's insurance is right for your college student.