Frees Insurance is fortunate ebough to have some summer help. I have asked for a few “guest” blogs as they learn about insurance.
Many students often leave their last year of high school hearing the cliché, “College is the best four years of your life.” While this may or may not be true for many individuals, there is no doubt that going off to a university gives young adults a higher level of freedom and access to an entirely new social scene.
One of the many new freedoms students experience during this time includes renting their very first apartment, and usually with a few friends. From my own experience, my main concerns consisted of how close my apartment was to the Quad and Main Street, what my room would look like, and if I could borrow the old couch from home.
During my past few years as a student I lived in university sponsored housing. This upcoming year I will be attending a new university and living in an off-campus apartment for the first time.
My lease requires me to purchase renters insurance. When purchasing it I received a little “Renters Insurance 101” and thought I would pass on the knowledge.
Renters insurance provides coverage for personal property such as clothing, furniture, and electronics in the event of a loss such as fire or theft. You can add additional coverage to protect your new computer or expensive equipment. It will also provide liability coverage for bodily injury and property damage to others if it happens on your property. For example, you and your friends have a party in your apartment. Someone trips and breaks their leg in your apartment and decides to sue you. You are responsible to pay. Renter’s insurance can protect you from having to pay out of pocket.
According to Annual Security Reports, I just graduated from a university with 151 burglaries and 19 robberies from 2011-2013. I will be attending one this fall with 62 burglaries and 86 robberies from the same time period. Whether its injury or theft, it’s important to make sure you are protected. So, when finally find that perfect college apartment, make sure renters insurance is checked off your move-in day list.