![\"Forward](\"http:\/\/forwardmutual.com\/news\/wp-content\/uploads\/2016\/08\/8_15_College.jpg\")
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College students have a lot on their minds this time of year besides meeting up with friends. They\u2019re purchasing textbooks, finalizing class schedules, applying for jobs, and moving into apartments. With classes underway, has your college student considered purchasing renters insurance?<\/p>\n
This young group of renters own a significant amount of electronics (including laptops, cell phones, ipods, televisions, and more), in addition to clothes, appliances, and furniture. These possessions may be protected under the parents\u2019 homeowner policy, but special limits may also apply. If they rent an apartment off-campus, college students may not be covered under their parents’ policies.\u00a0What\u2019s more, if a fire or storm ravages the apartment, a landlord\u2019s policy would only cover the building, not the renter\u2019s possessions.<\/p>\n
In a recent survey of apartment hunters by apartments.com<\/a>, 67 percent of respondents reported not having renters insurance due to the cost of coverage, ignorance about the existence of renters insurance, or the belief that their possessions were not valuable enough to be covered.<\/p>\n Renters insurance provides coverage for loss or damage to personal property as well as liability coverage for injuries or damages for which the insured person is held liable.<\/p>\n Renters insurance is not expensive. According to the National Association of Insurance Commissioners, the average premium ranges from just $15 to $30 per month\u2014approximately the cost of two pizzas or 3-4\u00a0lattes per month. Some companies offer discounts if the renter\u2019s vehicle is also insured through them.<\/p>\n When purchasing renters insurance, it\u2019s important to take inventory of what\u2019s in the apartment or dorm room to determine how much coverage to purchase. When the dollar value of those items is calculated, the total value\u00a0may be surprising. Should a claim need to be filed, a comprehensive list of items (including purchase prices and serial numbers) will be required by the insurance carrier. It is recommended to make a quick inventory by taking photos or video of the room(s) or use an app like NAIC’s MyHome Scr.APP.book<\/a>\u00a0or the Insurance Information Institute’s\u00a0Know Your Stuff R\u00ae<\/a>. Remember to store the inventory in a secure, off-site location.<\/p>\n The\u00a0Office of the Commissioner of Insurance also has a\u00a0<\/span>helpful article here<\/a>\u00a0on insurance coverage for college students, as well as this publication\u00a0Insurance 101: A Guide to Insurance Basics for College Students<\/a>.<\/span><\/p>\n To learn more the changing insurance needs of college students or renters insurance, contact Forward Mutual<\/a>. With peace of mind about insurance coverage, your college student can get back to more important things, like studying for their next exam or finding a date for Friday night.<\/p>\n College students have a lot on their minds this time of year besides meeting up with friends. They\u2019re purchasing textbooks, finalizing class schedules, applying for jobs, and moving into apartments. With classes underway, has your college student considered purchasing renters insurance? This young group of renters own a significant amount of electronics (including laptops, cell […]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_crdt_document":"","_genesis_hide_title":false,"_genesis_hide_breadcrumbs":false,"_genesis_hide_singular_image":false,"_genesis_hide_footer_widgets":false,"_genesis_custom_body_class":"","_genesis_custom_post_class":"","_genesis_layout":"","footnotes":""},"categories":[4,5,6],"tags":[25,41,15,27,40],"class_list":{"0":"post-385","1":"post","2":"type-post","3":"status-publish","4":"format-standard","6":"category-homeowners","7":"category-landlords","8":"category-renters","9":"tag-claims","10":"tag-coverage","11":"tag-homeowner-benefits","12":"tag-rental-property-benefits","13":"tag-students","14":"entry"},"featured_image_src":null,"featured_image_src_square":null,"author_info":{"display_name":"forwardmutual","author_link":"https:\/\/www.forwardmutual.com\/news\/author\/forwardmutual\/"},"_links":{"self":[{"href":"https:\/\/www.forwardmutual.com\/news\/wp-json\/wp\/v2\/posts\/385","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.forwardmutual.com\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.forwardmutual.com\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.forwardmutual.com\/news\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.forwardmutual.com\/news\/wp-json\/wp\/v2\/comments?post=385"}],"version-history":[{"count":0,"href":"https:\/\/www.forwardmutual.com\/news\/wp-json\/wp\/v2\/posts\/385\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.forwardmutual.com\/news\/wp-json\/wp\/v2\/media?parent=385"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.forwardmutual.com\/news\/wp-json\/wp\/v2\/categories?post=385"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.forwardmutual.com\/news\/wp-json\/wp\/v2\/tags?post=385"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}What is renters insurance and how much does it cost?<\/h2>\n
How much coverage do you need?<\/h2>\n
\nThis article is taken in part from\u00a0our reinsurance company Grinnell Mutual<\/a>.<\/h5>\n","protected":false},"excerpt":{"rendered":"