College students living in dorms are usually protected under their parents’ homeowners insurance, but moving to an off-campus apartment means it’s time to buy a renters insurance policy. This will help prevent financial hardship due to stolen or damaged personal property. Having adequate coverage also allows students to focus on their studies instead of worrying about earning enough to pay for losses caused by a disaster or lawsuit. Below are a few good reasons to have a renters policy while away at school.

3 Ways College Students Benefit From Renters Insurance 

1. Coverage for Loss & Damages 

Unfortunately, college housing is often a target for criminal activity—and a landlord’s insurance will only cover the structure, not the tenant’s items inside the building. Renters insurance will provide the funds to replace any items that get stolen or damaged. This takes care of a major expense students with limited income typically can’t afford to pay on their own. In addition to theft, a tenant’s belongings will be covered in the event of damage caused by a fire, smoke, hail, lightning, and vandalism.

2. Protection Against Liability Claims

If someone gets hurt in your student’s apartment, they could be held financially responsible for the associated medical bills and pain and suffering. Renters insurance will take care of these expenses, as well as any legal fees and judgments that arise from a lawsuit. If your student damages another person’s property, their renters policy will also cover the costs to repair or replace it. 

3. Funds Provided for Temporary Living Expenses 

If the apartment is deemed inhabitable for any length of time after a disaster, renters insurance coverage covers the costs of staying somewhere else until it’s safe to move back in. The policies typically pay temporary living expenses for comparable housing along with food costs, so you know your student will be safe. 

College is expensive enough without having to pay to repair or replace valuable items, making renters insurance as essential as this semester’s textbooks. The professionals at Pella Mutual Insurance Company will help you find a renters policy that perfectly suits your needs and budget. They have been working with residents of Marion, WI, since 1876 and remain committed to providing quality products and services. Call (715) 754-5039 to find a local agent, or visit Pella Mutual online for more information.