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8/15/2012 - Do college students need renters insurance? PCI says 'Yes'


College students living off-campus should have their own renters insurance.

Next to the temperatures cooling and the leaves changing colors, a sure sign it's autumn are cars brimming with belongings in the back seat as teens head to college. While some students may be living in dorm rooms, others will be renting out apartments.

With this in mind, the Property Casualty Insurance Association of America offers a word of advice: obtain a renters insurance policy.

Christopher Hackett, director of personal lines for PCI, says with all the things that students need during a typical semester, a renters policy sure comes in handy.

"College students are getting ready to move away from home and they will bring with them more expensive school supplies like laptop computers, bicycles, stereo equipment, and televisions," said Hackett. "With all the preparations it’s easy to forget that there are insurance questions for college students living away from home. A simple renter’s policy will give parents and students peace of mind if something happens."

He added that a renters policy would not only cover these belongings if they're stolen but if they are severely damaged because of a storm or fire.

Anywhere from 31% to 50% of renters purchase a renters insurance policy, according to various polls. The Insurance Information Institute says that those who rent in the city tend to be more likely to have coverage compared to those in more rural locations.

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