Hudgens: College students should consider renters insurance

Published 7:07 pm Friday, July 27, 2018

Atlanta – As the start of the school year approaches, college students who are moving out of the house or off campus may want to consider purchasing renters insurance to help with the cost of replacing stolen or damaged personal belongings.  

According to Georgia Insurance Commissioner Ralph Hudgens, renters insurance can cover the loss of laptop computers, smart tablets, musical instruments, jewelry and much more in the event of theft, fire or some other unforeseen disaster. Forstudents who plan on living in private, off-campus housing, the landlord may require renters insurance, but not all do, and just because s landlord insures the space does not mean that you are covered.

“If your college student is moving away to school with expensive electronics or other valuables, buying renters insurance is a smart move,” Hudgens said. “The landlord may have insurance on his building, but that doesn’t cover replacement of a renter’s possessions.”

Hudgens suggests discussing the needs of your student with your local insurance agent who can tailor a Renters Insurance policy to your individual needs. Everything from property damage caused by fire, hail or smoke, to liability suits brought by guests slipping on stairs or in the bathroom can be included in a policy.

Renters’ insurance can be reasonably inexpensive, and most policies range from $15 to $30 per month. Many companies will allow customers to bundle their renters insurance with other policies, like your auto insurance, making it less expensive.

Consumers may get more information on renters insurance by calling an insurance agent or by contacting the Georgia Department of Insurance’s Consumer Services Division at (404) 656-2070, or toll-free 1-800-656-2298.