College Students - Do they need Renters Insurance?
Your son/daughter will be heading off to college soon, so you're wondering "how do I protect them and their personal belongings? Do I need to purchase insurance?
If your son or daughter is still a resident of your household and living in a dorm room during the college year, your homeowners policy may provide up to 10% of your contents limit for their personal belongings away from home.
However, if they will rent an apartment or house, you should consider a renters policy. The Renter's policy provides coverage for personal property, as well as loss of use (if they have to move out due to a fire), plus liability. Liability will provide coverage for bodily injury and property damage. Most standard leases include a requirement for the tenant to have liability coverage (in case the tenant causes damage to the building, such as a fire, the landlords insurer would sue the tenant for the damage).
If your son or daughter is still a resident of your household and living in a dorm room during the college year, your homeowners policy may provide up to 10% of your contents limit for their personal belongings away from home.
However, if they will rent an apartment or house, you should consider a renters policy. The Renter's policy provides coverage for personal property, as well as loss of use (if they have to move out due to a fire), plus liability. Liability will provide coverage for bodily injury and property damage. Most standard leases include a requirement for the tenant to have liability coverage (in case the tenant causes damage to the building, such as a fire, the landlords insurer would sue the tenant for the damage).
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