Does my college student need renters insurance?
posted by TrueNorth Risk Management on Friday, August 16, 2024
Is someone in your household heading to campus?
It may be worth extending your liability coverage or writing them a renters policy of their own.
Theft is a major issue on many college campuses with data from the University of Pittsburg showing that a laptop has a 1 in 10 chance of being stolen, 98% of which are never recovered. *
As your college kid heads off for school, here are some things to keep in mind:
- Most insurance carriers will extend liability and some personal property coverage to dependents if they are enrolled as full-time students.
- Increasing your liability may be more affordable than you think. Increasing liability will ensure your student has maximum coverage if they are found at fault for a loss or damage.
- Coverage may need to transition to a standalone renter’s policy, especially if the owner or property management company requires confirmation of an insurance policy in order to rent or lease.
Access a free financial checklist for college students and their parents here!
Don’t wait until it’s too late to secure coverage. For risks ranging from tailgating to toaster ovens, TrueNorth’s personal lines team can offer you and your student the insight and protection you need.
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In addition to helpful weekly guidance on home and auto, TrueNorth provides a number of insurance options to protect your family from risk. For information on a home or auto quote, visit www.iTrueNorth.com or call us at (319) 739-1277. We'd like nothing more than to help safeguard the things that matter most to you.
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