Does your child have the right insurance for the semester ahead?

College season is upon us, and many young adults across the nation have moved out on their own. Whether choosing the dorm life or living off campus with friends, it’s the first time that students start to acquire their own possessions. These include stereos, laptops, printers, tablets, phones, flat screen TVs, and those all-expensive textbooks. While your college student may be safe and sound, have they forgotten to take renter’s insurance with them?

Chances are, if a student’s laptop gets stolen, it’ll cost at least $1,000 or more. Typical college students don’t have that kind of cash lying around.

Fortunately, renter’s insurance will step in to cover the costs. Most standard renter’s insurance policies provide three types of coverage:

  • Personal property – A typical policy covers your belongings if they are damaged due to fire, theft, vandalism, smoke, lightning, windstorm, and discharge of water.
  • Liability – This is coverage that insures you if you’re sued. If someone slips and falls on the property, and he/she sues for the cost of medical bills, your liability coverage will help you to pay for this expense.
  • Loss of use – This coverage helps you to pay for another apartment or hotel should you be unable to use your rented property for any reason.

Depending on your situation, you may need additional insurance to cover hurricane damage, flood damage, and identity theft protection. Every parent wants to set their child up for success by sending them off to college, protected.

The bottom line is that renter’s insurance can help safeguard belongings and finances. Contact Tompkins Insurance to get started on the right coverage.