Does a College Student Need Renters Insurance?

College students who live in a dorm do not need renters insurance. However, if a student lives off campus, renters insurance may be a good idea. A parents’ homeowners insurance policy provides some coverage to college students temporarily living away at school.

What does homeowners insurance cover for college students?

A parent’s homeowners insurance follows a student who lives temporarily in a dorm or apartment to attend school.

Up to 10% of the Personal Property limit applies to belongings stored outside the home.

• This can include a dorm, temporary off-campus apartment, or storage unit.
• This only covers theft claims if the student has been living in the dorm in the 90 days prior to the theft.

For example:

Part C – Personal Property Coverage	$100,000
Off-Premises Coverage Limit	x10%
Coverage Limit for Belongings Stored Outside the Home	=$10,000

Liability coverage from a parent’s homeowners policy is available to resident family members. If the student’s permanent residence is the insured home, they have coverage if they accidentally cause damage that could result in a liability claim.

Renters insurance for college students

A parent’s homeowners insurance policy may apply to a student whose permanent residence is still the insured home. However, it will not cover a student who changes their address or declares residency in another state.

If the student lives in an apartment off-campus, a renters insurance policy may be a good idea. Renters insurance has three coverage types:

• Personal Property - Repairs or replaces your belongings after a covered loss.

• Loss of Use - After a covered loss that makes the residence uninhabitable, covers living expenses beyond your normal costs until you can return or find a new place. Loss of Use coverage is not available from a parents’ homeowners policy if the dorm or school apartment becomes uninhabitable.

• Liability - Covers your liability if you accidentally injure someone or damage another’s property.