4 Reasons College Grads Need Renters Insurance

It’s that time of year! College students around the world are moving on to the next chapter of their life. As college graduates transition from the dorms to their very own place, one item is easily forgotten: renters insurance. Young adults tend to get caught up in all the excitement and forget about the importance of renters and home insurance. If you’re renting for the first time, or have been renting with out it, you’ll want to look into purchasing it. Renters insurance covers everything from personal liability to personal property. Here are 4 myths that might persuade you to find a plan.

  1. My landlord’s covered. In most cases, landlord’s insurance covers only structural damage to the building itself. This means, if you were to leave the tub running for too long and it runs down and dribbles downstairs, damaging your neighbors couch, you would be liable for the big drippy mess. If your building went up in flames, the landlord’s coverage would only include repairs to the building, not the tenant’s possessions.
  2. It’s out of my price range. Is $10 to $20 a month too much? Also, in most cases if you combine it with your auto insurance, renter’s insurance comes free.
  3.  My stuff isn’t worth it. You would be surprised how quickly things add up;books, appliances, furniture, and electronics are all possessions you don’t want to lose.
  4.  I’m in a safe building. Renters insurance extends beyond on-premise theft and hazards. If your suitcase is stolen while on vacation, you’ll likely to be covered. Same with property stolen from your car. If someone slips or sprains their ankle during your dance off, you’ll be covered.

Grads, after you celebrate your big accomplishment, don’t forget to call your local agent about renters insurance to protect you and your new possessions. Sweeney & Sweeney wishes you all the luck!