(Washington, DC) College students renting an off-campus apartment or house while away at school should consider purchasing renter’s insurance to protect their personal property, such as a computer, television, stereo, bicycle or furniture, in the event that it is damaged, destroyed or stolen. Even if a student is a dependent on his or her parent’s insurance, the student’s personal property, in many cases, is not covered if the student lives off campus. Parents should check their policy or contact their insurance agent to see if renter’s insurance is right for their son or daughter who is away at school.

What is Renter’s Insurance?
Renter’s insurance protects your personal property against damage or loss, and insures you in case someone is injured while on your property.

Why Purchase Renter's Insurance?
If you live in a rented apartment, house or condominium, your landlord’s insurance doesn’t cover your personal property in the event it is stolen or damaged because of a fire, theft or other unexpected circumstance. College students living in off-campus housing are ideal candidates for renter’s insurance, since many students bring thousands of dollars worth of personal items, such as electronics, a computer, textbooks, clothes, furniture, and a bicycle, with them to school. It is the renter’s responsibility to provide coverage for these valuable items. However, if a college student is under 26 years old, enrolled in classes and living in on-campus housing, the student may be covered under his or her parents’ homeowners or renter’s insurance policy. The premiums for renter’s insurance average between $15 and $30 per month depending on the location and size of the rental unit and the policyholder’s possessions.