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College Students Should Consider Getting Renter's Insurance

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Posted at 6:03 PM, Aug 21, 2015
and last updated 2015-09-08 04:40:06-04

MURFREESBORO, Tenn. - As college students have been returning to school, insurance experts said they should look into getting insurance coverage, especially if they own multiple electronics.

"These things add up quickly and the stuff is not cheap, that's why we're asking parents to take a hard look at what your kids are taking to school and make sure that that investment is covered because if it isn't, it's not going be fun replacing it out of your own pocket," said Kip Diggs, spokesperson for State Farm Insurance.

Diggs suggested students living off campus get renter's insurance, which costs on average $100 to $200 per year. He said colleges have their own policies when it comes to replacing student's items following a disaster, but most students have been covered by their parent's homeowner's policy, which can be limited.

"Let's say your child has $3,000 to $4,000 worth of computer equipment, which isn't impossible, especially given the requirements for a college student. You could find yourself only partially covered, in that instance you want to consider a personal articles policy," Diggs said.

MTSU encouraged students to get personal property insurance. School officials said should something happen, students would be directed to their legal office to file a claim.

The university does not assume responsibility for student's personal items, and that's why it's also important for them to secure their property at all times.