A student has a lot to think about before heading to college. Parents too. As you register for classes and secure living accommodations, don’t forget about protecting yourself and your belongings with a Renters insurance policy.
It may seem like a college student does not have a lot in terms of valuables, but laptops, TVs, jewelry, shoes, and art supplies can add up to thousands of dollars. Money that the average student may not have the means to replace.
“When a student is living off-campus, even if it’s not required by the landlord, Renters Insurance protects personal property from theft, fire, and water damage,” explains EPB&B Personal Lines Account Manager Denice Nelson. “Renters policies also carry personal liability in case of injury on your property.”
As a student, having Renters coverage protects you from an injured party going after your parent’s liability too. If a student accidentally damages the rental property or causes harm to someone within it, liability coverage can help cover legal expenses and potential damages. This can be especially important in shared living situations, where accidents might happen more frequently. In addition, the loss of use coverage offered in a Renters policy also includes additional living expenses that may occur if your home becomes unsuitable to live in due to a covered loss.
A typical Renters policy also referred to as an HO4, consists of 4 main coverages,
Personal property
Loss of use
Personal Liability
Medical
“A $500 deductible is fairly standard, and depending on the amount of content chosen, they can run as low as $10 a month,” says Denice.
A good investment for great piece of mind allowing you to focus on academics (and some fun) at school.
For assistance on Home, Auto, Renters and other Personal Insurance needs contact:
Denice Nelson, Personal Lines Account Manager
DNelson@epbb.com or 503-225-5204