DO COLLEGE STUDENTS NEED RENTERS INSURANCE?

Important Tips for Students in Connecticut

As the back-to-school season approaches for college students, the Connecticut Insurance Department (CID) is here to provide important information that parents and students should be aware of.

On Campus or At Home

Student’s insurance needs vary based on their housing for each school year. If a student lives at home and commutes to their classes, their belongings are most likely covered under their parent/guardian’s homeowners insurance policy up to a certain limit. A homeowners policy would likely also extend coverage to students living in a dormitory or on-campus housing. It’s a good idea to contact your insurance company and ask them about property coverage for students going off to college as well as conditions, deductibles and limitations. Students may also have some coverage for personal electronic devices (e.g. laptops, cell phones, tablets) for repair or replacements at the time the device was purchased.

Renting or Leasing

Individuals that rent or lease housing while in school may also want to think about purchasing a renters insurance policy. That kind of policy may be needed to satisfy a landlord if your student is entering into an off-campus lease. A renters’ policy often includes personal liability coverage in the event of an accident occurring on the premises. It’s important to remember that a landlord’s insurance policy will most likely not cover a renter’s belongings in case of theft or damage.

Helpful Tips

When preparing to move back to college housing, remember these tips:

• Think about purchasing renters insurance for students living off-campus.
• Ask your school for advice. Some colleges and universities have relationships with insurance companies that will offer property insurance discounts to students.
• Shop around. Get several insurance quotes to see what price and coverage work best for your needs.
• Take inventory of your belongings before moving in. Take pictures of your personal items and keep an up-to-date list of your possessions. This will assist you in case you need to submit a claim in the future.
• Buy your insurance policy prior to move-in day so that you are prepared and protected from day one. Some insurance companies will not sell policies if poor weather is expected.

Ensuring the protection of students and their belongings is essential. Take time to review policies and determine what coverage will fit your college-bound student best before moving into college housing.

Anyone with questions can contact the Connecticut Insurance Department by email at insurance@ct.gov or by calling 860-297-3900.