College is the first taste of “the real world” many young adults get when they are just getting started. There are so many new and exciting things to think about when you move away from home but there are also a lot of less exciting things that come with the responsibility of moving out.

One of those new and not so exciting decisions is whether or not you should be getting renters insurance. There are many factors to consider when thinking about renters insurance. According to the U.S. News, if you live in on-campus housing, such as a dorm or a school-owned property, your parents' home or renters insurance typically extends to you if you're listed as a dependent on their policy. Depending on your parents plan, whether you live on campus or if your apartment complex already has a deal with insurance companies are all the questions you need to know the answer to before further exploring your options. However, if you live off campus and are renting, renters insurance is a must.

At Liberty Properties we are committed to making sure all of our residents are protected and understand the importance of taking extra precautions. Once you have decided to rent an apartment follow these steps to make sure you are getting everything you need in your renters insurance plan.

For starters it is important to understand what renters insurance is exactly. According to Allstate, a renters insurance policy is a category of coverage designed to help protect renters living in a house or apartment. A typical renters insurance policy includes three types of coverage that help protect you, your belongings and your living arrangements after a covered loss. The three types of coverage are personal property, liability, and additional living expenses.

Personal property:

This is what protects your valuables. Let's say you are away from your apartment for a long holiday, such as spring break, and you come back to your apartment to find your apartment has been broken into and your computer and textbooks have been stolen. Without renters insurance, you would be responsible for replacing all of these expensive must-haves out of pocket. Renters insurance covers the replacement of these items.


This protects you from more unexpected things that could go wrong in your apartment. Let’s say you have a group of friends come over to study, and one of your friends wants to take a tour of your apartment because they have never been over. When they head down stairs they slip and break their ankle. Renters insurance covers the legal and medical fees that could be involved in that situation. Taking even less stress off of you.

Additional living expenses:

This part of renters insurance is for the “what if” scenarios. Let’s say your building catches fire and is no longer deemed livable, your renters insurance will cover for possible hotel expenses.

Another factor that makes students hesitate on thinking about renters insurance is because they think that it is too expensive. However, as students can shop around for the best coverage options and what works for them, there are some rates as low as $4 a month for renters insurance. Which is worth it, unless you can afford to replace everything valuable you own.

So now you know everything you need to know about renters insurance but, you’re still on the fence if you really need it or not. This is when it's time to listen to mom and dad, yet again, because it is always better to be safe than sorry. When you’re not paying too much a month to be covered for the worst possible scenario it’s a nice weight that you can lift. One less stress to add onto your busy college schedule.

We at Liberty Properties hope this helped clear up any confusion on if you need renters insurance and what it is. If you are looking for a place to live or have any questions contact us or call us at 334-821-1600.

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