If you have a college student in Fillmore, NY, you may have considered moving them to an on- or off-campus apartment. But what most parents don’t consider is a renters insurance policy to protect their student’s belongings. Walker and Associates Insurance Agencies Inc. can help you find the right policy for your college student.
Dorm Coverage
Accidents can happen, as well as fires and other mishaps. Although your homeowners policy may extend spatial coverage to your student’s belongings, buying a renters policy may prove to be a wise investment. By doing so, you’ll get greater coverage for the following:
- Items like laptops, electronics, and other personal belongings
- Additional living expenses if their dorm becomes uninhabitable
- High-value items like jewelry (with an add-on, or endorsement)
College campuses often experience higher rates of theft. A renter’s policy provides a low-cost way to protect against this risk.
Apartment Coverage
Many students move to an apartment in their sophomore, junior, or senior year. While this living arrangement may be cheaper, it also comes with risks. A landlord’s policy won’t protect your student from damages due to a fire, theft, or water damage. For those risks, you’ll have to pay out of pocket for any losses. Most likely, your homeowner’s coverage won’t extend to off-campus housing. However, the bigger risk is liability. If your student causes damage or is responsible for an accident, you’ll be responsible for legal and medical bills without renters insurance. Many off-campus landlords also require renters insurance before signing a lease.
Learn what renters insurance may apply to your student in Fillmore, NY. Contact the professionals at Walker and Associates Insurance Agencies Inc. to get started on a policy to meet your needs.
