Insurance topics that everyone needs to know from someone who puts Jesus first, not money or himself--------------------------
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Best kind of renters insurance for college kids – the free kind…
I have had the question here lately: how much will it cost to get renters insurance for my college son or daughter who is going off to school this fall?
My answer is nothing, maybe… If you have renters or home owners insurance it could possibly be free. The best thing to do is to ask your agent how the liability form of your policy reads. In more cases than not, liability coverage automatically extends to “any premises not owned by you but where you may be temporarily residing.” The policy may also extend up 20% of Personal Property to the same location. For example if you lived in a home that had personal property coverage of $136,710, then 20% of that or $27,342 is the amount of personal property coverage your child may have on all that old furniture you got out of your house when you moved them off to school. So good news, a renters insurance policy is one less thing you may not have to pay for while sending them to college.
In the event that you have to buy renters insurance, the typical cost is about $12-$20 a month.
One thing is for sure, every college kid needs to have some kind of liability coverage on where they are staying. If not for them, for the crazy friends they either have or will meet.