Renters Insurance for Young Adults
If you are renting, you will want to make sure that your
personal property is properly protected, whether you’re a college student
living off-campus, a recent graduate in the workforce living in your first
apartment, or a family in an apartment or house.
For college students, if you are living in housing on your
college or university’s campus, you are most likely covered through your
parents’ homeowners insurance policy. However, if you are living in
private, off-campus housing, you should seriously consider taking out a renters
insurance policy. Your landlord may require you to have renters’ insurance, but
not all do, and just because your landlord insures the space you rent does not
mean that you are covered.
Having a policy protects you and your property from damages,
theft, and liability, based on the type of policy you have. If your apartment
is broken into and your belongings stolen, renters insurance can help you
replace them. It can also protect you from lawsuits if someone is injured or
suffers property damage while on your property, if you include liability
insurance. Renters insurance often protects your belongings when you aren’t at
home as well. If you lose your luggage while travelling, have your laptop
stolen at a coffee shop, or have items stolen out of your car, you may be able
to file a claim on your policy. If you have a roommate, you’ll want to make
sure that your name is on the policy, whether through a shared policy or having
your own – if your name isn’t on the policy, you aren’t covered.
Renters insurance is fairly inexpensive, and most policies
range from $15 to $30 per month. Many companies will allow you to bundle your
renters insurance with other policies, like your auto insurance, making it less
expensive. In the end, you’ll be glad you have it.
Already moved in? No problem! You can open a
policy at any time.
For more information on renters insurance, click here. If you want to read more insurance tips for young adults, head back to where