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Renters insurance a must for college students as they return to campus

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Posted at 4:25 PM, Aug 30, 2018
and last updated 2018-08-30 16:25:21-04

The Insurance Alliance of Michigan is encouraging new college students and those returning to campus to protect their belongings with renters insurance.

“Renters insurance is often overlooked by college students, but it is a great way to insure your belongings, whether you live in a dorm or off-campus,” said Pete Kuhnmuench, executive director of the Insurance Alliance of Michigan. “Renters insurance can cost the same as a cup of coffee per month, which is a small price to pay to cover expensive items like a TV, laptop or smartphone.”

A parent’s homeowners insurance policy may cover their child’s belongings if they live in a dorm room, however it likely won’t extend to off-campus housing. It’s best to check with your insurance agent to find out what may be covered under your homeowners insurance policy and if your college student needs renters insurance.

“Insurance companies and their agents are there to answer the call – day or night – to tackle everything from routine claims to disasters, and we encourage policyholders to reach out to their agent with any and all questions,” Kuhnmuench said.

Students should also check with their landlord, as they may require tenants to carry renters insurance before signing a lease.

Regardless of how they are covered, students should have a list of all their belongings, ideally including purchase price, model numbers and serial numbers. Photos or video footage will also suffice.

“Renters insurance is oftentimes an afterthought for college students, but it comes at a minimal cost and provides maximum peace of mind,” Kuhnmuench said.