Best Renters Insurance For College Students In 2022
Often more than not you are in a rush to get a renters insurance policy so that you can move into your new apartment or rental home.
And I have some great news, not only can buying renters insurance be extremely simple, but you can get renters insurance quotes online and apply for coverage in a couple of minutes.
We have reviewed 4 of the best renters insurance companies for college students in 2022 to make your search for coverage and the buying process super easy.
Lemonade – Best Overall
After reviewing several companies, our top pick for the best overall renters insurance is Lemonade. Their application is super fast, their site is easy to navigate, and they have some of the lowest rates.
More Of The Best Renters Insurance For College Students Below:
Progressive – Best For Policy Discounts
Progressive has been in business since 1937, and they offer renters insurance in 50 states and D.C.
QuoteWizard – Best For Comparison Shopping
With Quote Wizard, you can compare 30 companies side by side and choose the policy that has the coverage you need.
Allstate – Best For Multiple Plan Options
Allstate needs no introduction and they are one of the largest insurance companies in the Entire insurance industry.
How Much Does Renters Insurance Cost For College Students?
The average cost of renters insurance for a college student is around $15 per month or $180 per year. However, it’s important to remember that the price can vary based on several factors such as your location, the condition of your unit, the amount of coverage you need, the type of items you need to cover and the deductible you choose.
What Does Renters Insurance Cover For A College Student?
Personal property
Personal property coverage means that if something happens to your personal belongings, the insurance company will give you money to replace them based on the current cost or current value (depending on your type of policy.)
Personal liability
Personal liability insurance will cover you in case someone decides to sue you after getting hurt at your house. The insurance company will pay the legal costs and any settlement to the injured party.
Medical payments
Medical payments go hand in hand with personal liability coverage. If someone sues you because they hurt themselves at your house, this coverage will take care of their medical bills.
Loss of use (also called Additional Living Expenses – ALE)
Loss of use coverage means that if something happens to your home and you cannot live there because of the damage, your insurance company will reimburse your living costs. Some companies have time limit caps, and others have monetary caps on this benefit.
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Renters Insurance Still Won’t Cover…
It’s a great thing to be covered with renters insurance; however, I don’t want you to think it covers you for everything. There are some things that absolutely NO renters insurance policy will cover, no matter if they are the best renter insurance company and we list them below:
Floods
If you’re concerned about flood risk, your best bet is to visit FEMA’s website to learn more about the National Flood Insurance Program. Keep in mind, this policy will cover things like an overflowing-bathtub, situations like that aren’t considered to be a flood in terms of being covered.
Earthquakes
Earthquakes aren’t covered either, if you are concerned about earthquakes you should search for a separate earthquake policy.
Dangerous Dogs
Like with other renters insurance plans, certain dog breeds are seen as higher-risk than others, and so a few breeds are excluded from liability protection.
Intentional Acts
No matter the insurance company or the type of insurance product, there isn’t any insurance carrier that will pay out for a loss caused by an intentional act.
As you can see, if you need the best renters insurance in California, or any state you are still going to need additional coverage for anything that might not be covered.
Why A College Student Needs Their Own Renters Insurance Policy?
You might not currently have much, but the things that you own are essential to you and most of the time expensive or challenging to replace.
For example:
What happens if your laptop gets stolen from your dorm room or a café? It’s unlikely that you have an extra $1,000 lying around to buy a new one. However, your insurance policy can replace it promptly.
If tragedy strikes and you lose everything you own, then it can be incredibly expensive to start over. Renters insurance can help you get back on your feet and replace the essentials. With policies starting at just $5 a month, there’s no excuse not to have some protection.
RENTERS INSURANCE WHERE YOU LIVE
Renters insurance by state.
As a home renter, there are insurance policies available for you regardless of where you live.
With quality Renters Insurance, you can protect your home and everything inside it. For more information, click on your state.
Does My Homeowners Insurance Cover College Students?
Sometimes. A handful of homeowners policies allow you to add renters insurance for a college student if they’re under 26 and live in a dorm room.
Other policies are more restrictive. Given how economical renters insurance is, however, it makes more sense for your college student to have their own coverage.
Is Renters Insurance Worth It For College Students?
Yes, 100%. Like we said, if something happens to your stuff, your renter’s insurance will help you replace it.
And, with easy-to-use online claims, you won’t have to sacrifice too much studying time to get the funds you need to start over. Some landlords will require it, so if its worth it or not really don’t help you in those situations.
However, if you do need to use your renters insurance, it will be worth it because the insurance company will replace your possessions and belongings up to the policy limit.
How To Apply For Renters Insurance
Applying for renters insurance is fast and straightforward. You can do it online very quickly. Below are the steps you can quickly take to apply for a renters insurance policy.
View Your Instant Quote
First, you want to click here or any of the above buttons to start the quote process, you won’t need any personal information other than the address to get your quotes fast. Once you have your quotes and pick the coverage option that works best for you, it’s time to get covered.
Get Your Personal Information Together
You will need your name, address, and Social Security number. The online forms guide you through several questions to learn more about the rental you will be living in and what coverage you need.
Start Your Online Application
Once you have all of your personal information together, your next step will be to start the application. This will be easy by just following the prompts after you complete your quote.
Know The Safety Features Of Your Rental
The application might ask about smoke detectors, sprinkler systems, and deadbolts. The best renters insurance will offer discounts for those features. Sometimes, the intake form may also ask if you have pets, especially certain dog breeds. Overall the process can take less than five minutes.
Answer Your Questions Honestly
Be sure to answer every question, truthfully. If you do not, and something happens, the company may deny your claim. Even if they do not deny your claim, you still may be committing fraud.
Add Any Additional Interest
Some landlords may require you to add them as an additional interest; this will let them know if the policy has lapsed or when you have renewed your policy. Most companies can add this during the application process or immediately afterward.
Print Your Proof Of Insurance
Once your policy has been approved and paid for, simply print out your proof of insurance, and you’re covered.
Take Action – You Decide
If you’ve thought about buying renters insurance but never taken action, there’s no time like the present. Not only is Lemonade easy to apply for and easy to place claims, they also allow you to pick a cause that matters to you and donate to it.
The saying goes, “If you knew better, you’d do better,” so now that you know, its time to do. You can click here to start your path to renters insurance coverage instantly, today.
Frequently Asked Questions
How much does renters insurance cost for college students?
The average cost of renters insurance for a college student is around $15 per month or $180 per year. However, it’s important to remember that the price can vary based on several factors such as your location, the condition of your unit, the amount of coverage you need, the type of items you need to cover and the deductible you choose.
Can you get renters insurance for college dorm?
Yes, you can get renters insurance for your college dorm if you live off-campus. However, if you are still living with your parents while attending college their homeowners or renters insurance policy will usually cover you.
Can I get renters insurance for my son?
Yes, you can get a renters insurance policy for your son or daughter. If they live alone you can be the “Payor” of their policy. If they are in college and still live with you they are already covered under your personal homeowners or renters policy.
What kind of insurance might a college student need?
The kind of insurance a college student might need when they are away at school is:
Life InsuranceHealth InsuranceRenters InsuranceAccident InsuranceIdentity Theft InsuranceCar InsuranceCell Phone InsuranceDental Insurance
