If you’re a college student and living away from home, insurance policies probably aren’t on the brain when you’re hosting a party at your place. But if there are candles lit for ~ambiance~ that are sometimes forgotten, or valuable items left vulnerable sticky fingers…you might want to consider some protection for yourself and your stuff. In college, there are close quarters, crime, and negligence. There’s bound to be a few close ones.
There’s good news and bad news. Good news? If you’re living in an on-campus dorm, your parents’ insurance might have you covered. Bad news? If you’re renting an apartment or house off-campus, you might be rolling the dice without insurance coverage! If some of these party fouls sound all too familiar, you might be in the market for some renter’s insurance.
What does renter’s insurance cover?
1. Personal property. A basic plan would have your back if your laptop got swiped or damaged in a fire.
2. Liability. Insurance coverage could be a lifesaver in the event of a lawsuit. It might seem unlikely, but the damages can be devastating.
3. Living expenses. If there’s a crisis that calls for insurance coverage, there’s a chance you’ll need to shack up somewhere else for a while as a result.
How should I look into my options?
1. If you have car insurance, you can talk to a your current provider. Sometimes you can get a good deal on renter’s insurance if you bundle it with car insurance.
2. You can reach out to your school because some schools work with providers to offer student discounts.
3. You can discuss your ideas with your roommates because joint plans can be cheaper. Just make sure your roomies are trustworthy enough to pay the premium and not bail on your apartment, of course.
Be sure to do your research and discuss your ideas with a parent or guardian. The most important thing is to be informed so that you have the power to make good decisions for your financial wellbeing!
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