Do College Students Need Renters Insurance?

Renters insurance can provide peace of mind.

As college students embark on their academic journeys, they often face numerous decisions and responsibilities. One that often gets overlooked is if college students need renters insurance. Generally, the parents’ homeowners policy may cover full time students who fall under a certain age. Coverages may be different if the student attends on a part time basis or if they are older. It is good practice to review the parents’ policy and speak with their insurance agent to understand who and what is covered.

While the prospect of insuring a rented apartment or dorm room may not be high on the priority list, it’s an important consideration for safeguarding personal belongings and mitigating unexpected financial burdens.

Protecting You and Your Stuff

When you think about it, a college dorm room or off-campus apartment is essentially a home away from home. Personal items, such as electronics, clothing, and sentimental belongings fill the living space. Unfortunately, accidents can happen, and theft or damage to these possessions can occur, leaving students facing significant financial setbacks.

Renters insurance provides coverage for personal belongings in case of events like fire, theft, or vandalism. Even if you believe your belongings are secure, unforeseen circumstances are beyond anyone’s control. Having insurance ensures that you can recover financially if something unfortunate were to happen.

Renters insurance not only protects your personal belongings but also includes liability coverage. Liability coverage is important for college students living in shared spaces. Accidents happen, and if you inadvertently damage someone else’s property, you may be held financially responsible. For instance, if you accidentally start a fire that damages your room and spreads to neighboring rooms, you could be liable for the damages. Renters insurance can help cover the costs associated with such incidents, including property repairs and medical expenses, reducing your financial burden.

If your rented space becomes uninhabitable due to damage caused by a covered peril, renters insurance can help with temporary living expenses. This feature is valuable for college students who may not have the means to immediately find a new place to stay or cover additional living expenses.


One common misconception about renters insurance is that it is expensive, especially for college students on a tight budget. However, renters insurance is often quite affordable, with premiums typically as low as $12/month. The premium depends on factors such as location, coverage limits, and deductible.

So do college students need renters insurance? If they don’t have any protection from their parents’ homeowners policy, then renters insurance can be a cost-effective investment when considering the financial impact of potential losses and liabilities. For a relatively low monthly premium, students can protect themselves from financial hardship in the event of theft, damage, or accidents. Obtaining renters insurance is a straightforward process. Your landlord can help you get started with renters insurance by using RentersInsuranceWizard. They can send you a link to purchase renters insurance.