August is the month parents pack up their college kids and prepare to drop them off at their college dorm or off-campus housing. In addition to all the usual preparations, if your college student is renting a home or an apartment off-campus or lives in a sorority or fraternity house, he or she should also have renters insurance.

Even if it’s not required by the landlord, renters insurance protects your son or daughter’s personal property from theft, fire and water damage. It also protects them from personal liability if someone is injured on the property. And it covers “loss of use” if the property becomes uninhabitable.


What is Renters Insurance?

Landlords who rent to college students have insurance that covers the building and the structure, but your son or daughter’s belongings inside the rental unit are his or her responsibility. Renters insurance protects renters’ belongings from damage or theft.

There are three parts to a renters insurance policy:

  • personal property coverage
  • personal liability coverage
  • loss of use coverage.

Your college student’s personal belongings are protected by renter insurance if they are damaged by a covered event—such as fire, smoke, theft or storms.

Basic home furnishings and clothing are covered by renters insurance, however, you may need a personal article endorsement for laptops, high-end electronics, high-priced bicycles, jewelry or valuable collectibles. Make sure you mention these items to your insurance advisor to ensure your college student has adequate coverage.

Renters insurance also protects your son or daughter from personal liability claims. If someone is hurt or injured at your college student’s apartment or home, he or she may be held liable for injuries. For example, college students often host gatherings in their apartments or homes. If a guest is injured after falling on a slippery floor, renters insurance will cover the cost of a liability claim.

If your college student’s home or apartment becomes uninhabitable due to a covered peril, renters insurance pays for temporary living expenses. For example, the apartment or home catches on fire, renters insurance will pay for your son or daughter to live in a nearby hotel until it’s safe to move back.


What’s Not Covered by Renters Insurance

Renters coverage only protects the things your college student owns. Your son or daughter’s roommates will need their own policies. Cars are not covered by renters insurance, regardless of whom they belong. Damage to cars is covered under car insurance.


How Much Does Renters Insurance Cost?

The average cost of renters insurance is $15 a month. Some factors that go into determining the premium are the amount of coverage wanted and where your college student lives.

It took all summer for your son or daughter to save up enough money to buy that awesome stereo system, but it takes a thief only minutes to burgle it from their first floor apartment or home. Talk to a Healy Insurance advisor to help determine how much coverage you may want based on the value of what your college student owns. Let’s Connect!


About the Authors

Connie Greenwood, Risk Management Advisor

Connie Greenwood has 35 years of experience as an Insurance Advisor. She enjoys helping her clients and prospects understand their insurance options, and crafting insurance solutions tailored to their unique needs. Connie finds great joy in being a trusted advisor for her clients. She loves helping protect their financial welfare against unforeseen accidents and circumstances and bringing them peace of mind.

Tim Pingel, Risk Management Advisor




Tim Pingel has almost 20 years of experience as a personal insurance adviser. He provides individuals, couples, and families with home, auto, and umbrella insurance. His ultimate goal is to be his clients’ trusted adviser and expert, so they have the peace of mind and protection they deserve.