Whether you're heading off to college for the first time or already in the thick of it, odds are good that the last thing on your to-do list is learning about insurance coverage for the stuff in your dorm or apartment.
But here's the thing: About half of all on-campus crimes involve burglary. Whether it's a classroom theft, someone stealing from your dorm room or a break-in at your campus apartment, the result is the same. Unless your stuff is properly insured, you'll have to pay to replace it.
And theft isn't your only risk. Damage or loss from fire, flood and other natural disasters can also leave you on the hook if you need to replace your laptop, cell phone or other costly personal property.
These reasons are exactly why it's important for students to take safety precautions Opens in a New Window. See note 1 This includes having the right insurance. Knowing answers to certain questions can be helpful: Is college dorm renters insurance already included in the cost of university housing? Does my dorm insurance cover me if I move into a sorority house, frat house or campus apartment?
A USAA Renters Insurance policy can help protect your stuff against covered losses no matter what type of college housing you choose. Here's a quick study in college renters insurance 101 so you know how to best protect your personal items.
Should college students get renters insurance?
Unless you're living at home with your parents while attending college, you should consider renters insurance. Not only will it help protect you and your stuff, but it may open more doors in terms of where you can live. In many cases, proof of renters insurance is required to lease a college apartment.
And if you think the price tag for living in the dorm will cover the cost of replacing your stuff if it's stolen from your room, think again. Your college housing department may offer you a list of insurance providers. But they won't provide insurance coverage or pay for it.
Here are a few hypothetical scenarios to show how renters insurance could help protect you.
You're living on campus. Let's say you accidentally leave your dorm room unlocked when you make a quick trip to dinner. When you get back, you notice your new $1,800 laptop is gone. While you may not be able to recover your classwork, your dorm renters insurance can help replace your laptop.
You take a trip over spring break. You save up all semester so you can join your friends on spring break. Then your luggage and passport are stolen during travel. While it may not save you the hassle of replacing your passport, renters insurance does cover theft, including identity theft, and can help replace your stolen clothing, personal items and luggage.
Someone gets injured in your campus apartment. You decide to have a party at your place. It gets a little wild and someone gets hurt. You could be held liable. While you may not be able to repair the hard feelings anytime soon, a renters insurance policy can help provide liability coverage, including medical expenses for people who get injured at your apartment.
Is renters insurance worth the cost for college students?
Absolutely. But if you're still unsure, we get it. For most college students, money can be tight.
But if you go around your dorm room or apartment and start adding the value of replacing your laptop, cell phone, tablet, gaming console, musical instruments, sports equipment, art supplies, clothing, furniture, bike or even college textbooks, you might be surprised.
Coming up with the cash to repair or replace any, or all, of those items that get damaged or stolen can be a hurdle for many students and their families. And that's when your renters insurance becomes your best friend.
Renters insurance is one of the lowest cost policies. For example, USAA policies can be as little as 33 cents a day. See note 2 Making sure your personal property is protected may be well worth setting aside pizza money on occasion.
What coverage do college students get with renters insurance?
Renters insurance is one of the least expensive policies to get, yet it can provide invaluable protection. A standard renters policy includes liability and personal property coverage, and you can tailor your policy to get the coverage that your individual needs call for.
Personal property
Whether your things are in your dorm room, in the classroom or with you traveling, renters insurance can help cover losses or damage to your stuff in the event of:
- Theft and vandalism
- Smoke, fire and lightning damage
- Some water damage
- Building collapse and falling objects
- Damage from frozen pipes
- And more
Liability
This coverage can help protect you against a claim or lawsuit if you accidentally hurt someone or if a visitor is injured in your college apartment.
Additional living expenses
Renters insurance can help pay for temporary housing and meals if you can't live in your college apartment while covered damages are repaired.
What doesn't renters insurance cover?
Because most students have one or more electronic devices, it's important to know that a standard renters policy does not cover common accidents like dropping your phone, losing your device or spilling something on your laptop.
USAA renters insurance policies offer optional protection. See note 3 This is an extra endorsement or optional component to your renters policy, even if you're at fault for accidentally damaging or losing your covered devices, the policy helps to repair or replace items, including:
- Computers, laptops and tablets
- Smartphones and wearable tech
- Gaming consoles and TVs
- Drones under 10 pounds
Here are a few things your renters insurance doesn't cover:
- your roommate's stuff — they'll need their own renters insurance policy.
- damage done by insects or pets.
- theft or damage claims on your car.
Do landlords require college students to have renters insurance?
Most apartments require students to at least have liability coverage due to the damage that can result from the college lifestyle.
This coverage helps protect you if you're responsible for damage to the apartment or if someone is injured in your apartment. It also helps protect the landlord from liability or having to pay out of pocket for damages that resulted from renting to a college student.
Simply put, having renters insurance means if your stuff gets stolen or damaged beyond repair because of a covered peril, your USAA Renters Insurance policy will help replace it. And when you don't have the cash to buy a new laptop, cell phone or whatever items need replacing, that peace of mind can mean everything.
Protect your property in college.
USAA is here to help you get the renters coverage you need to protect your valuable electronic devices and personal property against damage or theft.