Picture credit - The Morning Call.

The new school year upon us and college students who are moving out of the house or off campus may want to purchase renters insurance to help replace costly items that are stolen or damaged.

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. If you plan on living in private, off‐campus housing, the landlord may require you to have renters insurance, but not all do, and just because your landlord insures the space you rent 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,” Commissioner 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 you to bundle your renters insurance with other policies, like your auto insurance, making it less expensive.

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