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Protect Your Pad: Renter’s Insurance for Undergrads

If you’re a college student who’s renting while in school, be sure to consider renter’s insurance. If you thought you were covered by your landlord’s insurance coverage, think again. Their policy only covers the building, not your belongings inside it. Renter’s insurance will protect your furniture, clothes, books and appliances from things like theft, vandalism, fire and falling objects.

Renter’s insurance covers your personal property from all of the following:

• Fire or lightning
• Windstorm or hail
• Explosion
• Riot or civil commotion
• Aircraft
• Vehicles
• Smoke
• Vandalism or malicious mischief
• Theft
• Damage by glass or safety-glazing material that is part of a building
• Falling objects
• Weight of ice, snow, or sleet
• Water-related damage from home utilities
• Electrical surge damage

You can decide whether renter’s insurance is right for you with one simple exercise. Take a good look around your place and imagine if everything was stolen or destroyed. Could you afford to replace it all out of your own pocket? If not, renter’s insurance is probably a good idea.

In addition to insuring your valuables and personal property, renter’s insurance provides personal liability protection and protects you against lawsuits. If a person is injured in your home and the cause is not due to a problem with the actual structure, you can be sued. But if you have a renter's insurance policy, you are protected from any litigation that might result from someone injuring themselves while visiting your home.

TDECU renter’s insurance is very inexpensive. And it’s much more affordable than the alternative – replacing everything you own with your savings or income. Especially while you’re paying for school.

For more information about renter’s insurance, click here.