Do College Students Need Renters Insurance?

For many college students, living on campus is a chance for students to learn how to be on their own and prove they’re responsible. Unfortunately, even the most reliable of college students lose belongings in the event of theft, natural disaster, and/or accidental damage. With that in mind, renters insurance for college students offers both peace of mind and coverage in the event of unforeseen circumstances.


Some parents may find that their homeowners insurance policy will cover their child’s belongings, even while they’re away at school. Sometimes, universities will offer renters insurance to their students before they move in. But even if you don’t have one of these options available to you, that’s no reason to go without.

Parties Gone Awry

College and partying seem to go hand in hand, which can spell bad news for landlords and parents alike. Damage during parties can range from a few scuffed floors or dented walls to serious structural and personal property damage. College students should be prepared, which means protecting themselves in case of an accident.


For instance, you might think you’re covered by your roommate’s renters insurance. Unfortunately, your roommate’s policy will only protect them and their belongings; renters insurance only covers the person named on the policy. So if someone accidentally spills a drink on your laptop or breaks your coffee table, you’ll be replacing it out of pocket unless you have your own policy. An expense like that can put some serious financial strain on a college student.


Or, for instance, take the students at the University of North Texas whose ceiling collapsed when a party in the apartment above them got out of hand. No one was seriously injured, according to the Washington Post, but several students were unable to salvage their possessions from the damage. Losing everything you own can set you back tens of thousands of dollars — not an expense you need when you’re already paying for tuition.


There are countless stories like this, of students getting caught in the middle of some serious damage to their apartment, that could have been avoided with a simple renters insurance policy.

When Disaster Strikes

Parties aren’t the only major threat to college apartments. Hurricane season runs from June through October, overlapping with the beginning of the fall semester. Back in 2012, Hurricane Sandy caused extensive damage to about 100,000 homes in Long Island alone, according to Newsday. Students facing a storm like that could lose everything they own.


Aside from storms, theft, fire, and flood can all spell huge amounts of damage for students just finding their financial footing. Your landlord’s insurance will only cover structural damages and damage to the building in the event of a disaster like that, so your belongings wouldn’t be covered.


Fortunately, insuring your college apartment is an inexpensive and simple way to protect your personal property. An insurance agent can help you determine what kind of coverage you need and find the best deal on a policy.

Peace of Mind for Parents

Accidents happen. But when your college student is learning how to get by without you, you don’t want those accidents to lead to permanent financial setbacks. The great thing about renters insurance is that it’s affordable and keeps them protected, even when they’re miles away from home. Many policies cost less than a laptop, and will keep that laptop protected.


Do some research, consider how much insurance you might need, and consult your insurance broker. You may need different types of policies depending on the type of apartment building your student will be living in, how many people they’ll be living with, etc. It’s also a good idea to consult with their landlord and roommates about renters insurance for college students to make sure everyone is on the same page.

Creating a renters insurance policy in your child’s name is a great way to give them more responsibility in their lives while keeping them and their belongings safe. Come natural disaster, party gone awry, or simply everyday accidents and damages, insuring your college apartment is the easiest and most affordable way to protect your belongings and your financial stability.

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