Renters Insurance for College Students

After 18 years, your child is heading to college! While it can be an exciting time, it is also an anxious one, especially for parents like you who suddenly have an empty nest. It’s important to make sure their belongings are covered. With the help of Klinger Insurance Group Renters Insurance, you can insure your child’s possessions and you can wave goodbye with peace of mind. 

What Is Renter’s Insurance? 

Renter’s Insurance Policy protects your personal belongings inside the house, apartment, or condo your child’s rents. It also covers you if someone gets injured in your child’s apartment. This policy pays for the repair and replacement of lost or damaged items. Renter’s Insurance is most important for college students who aren’t living on campus or at home. In other words, students who aren’t protected under their parents’ homeowner’s or renters’ insurance should get policies of their own.

Why is Renters Insurance Important?

These are the reasons why important to have a renter insurance policy:

• Cover losses to your child’s personal belongings from perils including damage from aircraft, explosion, fire or lightning, and theft.
• Provides your children with liability coverage.
• Cover your belongings when your child travels or at school.
• Your child’s landlord might require it

Do College Students Need Renters Insurance? 

We strongly recommend that college students have insurance or some kind of financial protection on their property. You may not seem to have many personal belongings, but their value can add up quickly. A laptop, software, television, art supplies, jewelry, and other belongings can easily reach thousands of dollars. 

Types of Renter’s Insurance Coverage 

Personal Property Coverage 

Personal property coverage will protect your child’s belongings if they get damaged, stolen, or destroyed in a covered peril. Renters insurance will reimburse your child for his/her items even if they get damaged or stolen off your property.

Liability Coverage 

Liability coverage protects your child up to a certain amount in the event that you get sued for an injury or other damages incurred at his/her home by other people. It also pays for damage that you, your family, or your pets cause to others. It pays any court judgments as well as legal expenses.

Medical Payments to Others Coverage 

Medical payments to others coverage will reimburse your child if someone suffers an injury while in your home. This coverage will reimburse the cost of their medical expenses up to your policy’s limit. 

Loss of Use Coverage 

This coverage means that if his/ her unit becomes uninhabitable due to one of the covered perils, they will be provided with some money to pay for temporary housing. Hotel bills, restaurant meals, temporary rentals, and other expenses incurred while your dwelling is being rehabbed are all included 

What Types of Damage Does Renters Insurance Cover? 

1. Fire and Lightning 
2. Vandalism 
3. Theft  
4. Windstorm 
5. Smoke Damage 
6. Explosion 
7. Water Damage from freezing or leaking plumbing and appliances 
8. Mold 
9. Volcanoes 
10. Falling objects 
11. Snow and ice collapse 
12.  Storage Units 
13. Visitor injuries 
14. Wind and Hail 

What Does Renters Insurance not cover? 

1. Earthquakes 
2. Sinkholes 
3. Floods 
4. Pet damage to your home 
5. Bed bugs and other pests 
6. Your roommate’s possessions 
7. Damage to your car
   

What Items are Covered by Renters Insurance? 

• Furniture and clothing 
• Accidental damage to someone else’s property 
• Medical expenses and/or legal fees if someone is injured at the residence, your child renting 
• Electronics and appliances (television, computer, etc.) 
• Extra expenses if the property is uninhabitable due to a covered loss 

To learn about Renters Insurance, call Klinger Insurance Group at 301-428-4935 or e-mail us at info@klingerinsurancegroup.com.  Shop and get a quote now to protect your child against unexpected circumstances. 

Source: https://www.investopedia.com/insurance/renters-insurance/
https://www.geico.com/renters-insurance/