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Renters Insurance

If you are renting, 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, you will want to make sure that your property is properly protected. 

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, just like any other renter, you should seriously consider taking out a renter’s 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 you have 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 you’re 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.