Does your College Student Need Renters Insurance

Does your College Student Need Renters Insurance

I remember coming back to my dorm after winter break during my junior year of college and all of my belongings were damaged. The building that I was living in at the time had extreme water damage due to a frozen pipe. Everything was a mess and my $1,600 computer was ruined. I attended college in the nineties so we did not have laptops, and computers were expensive! Fortunately because I lived on campus my      belongings, totaling about $3,000 were covered under my parents’ home insurance. However with that being said, had I not lived on campus my possessions would not have been protected.

This is a question that the SAVA Insurance office gets frequently. The answer is simple; coverage is dependent upon whether your child lives in a dorm, or an apartment with a rental agreement. An automatic 10% of personal property coverage will extend to the child at their dorm and on campus apartment. However, it is wise to have a renter’s insurance policy, if an off- campus apartment or house is leased. College students typically have thousands of dollars’ worth of personal items, from electronics to furniture to books. Having renter’s insurance is wise especially if your student is living with roommates. You never know when a roof will leak, pipe will burst, or someone leaves the toaster oven on and causes a fire.

Renter’s Insurance on average can total about $200 per year. This is an inexpensive safety net that will give you piece of mind while your student is living away from home. Contact our office to review your current home or renter’s policy and find out whether your college student can be covered and at what cost.

Like SAVA Insurance Group, Independent Insurance Agencies can get quotes from multiple insurance companies to compare prices so you don’t have to. For instance SAVA Insurance works with over twenty-five carriers to ensure that you get the best rates that fit your individual protection needs. Please contact SAVA Insurance Group’s experienced, professional and licensed agents today regarding renter’s insurance and what that means for your college student.  Click here for more information!

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