About Renter's Insurance
What is the purpose of Renter’s Insurance?
Renters insurance covers you and your possessions as a renter of an apartment or house. A standard renter’s policy protects your personal property, in many cases of theft or damage, and may pay for temporary living expenses if your rental is damaged and unlivable. It may also protect you from personal liabilities.
Would my landlord’s insurance cover me?
Almost always no. Your personal items such as clothes, stereo, furniture, laptops, etc. are not covered by your landlord’s insurance. Usually, the landlord carries insurance that will only cover their loss when their property has been destroyed or damaged in some way.
Would my parent’s insurance cover me?
Possibly. If you’re a full-time college student and part of your parent’s household, their homeowners or renter’s insurance may provide you with some coverage for your residence hall room, but more than likely not in an off campus apartment.
Who should purchase Renter’s Insurance?
Anyone who rents a place to live. Under most circumstances, the landlord’s policy will not pay for losses to tenants’ personal property or damages caused by the tenant. Property losses are usually unexpected. Insurance is a means of protection in case such losses should occur.
What is covered or is not covered?
Talk with an insurance agent to understand their array of policies and coverage options. Normal coverage may include fire, lightning, windstorm, hail, explosion, vehicles, sudden or accidental damage from smoke, water damage from plumbing, and theft. Floods, normal wear and tear, earthquakes, and waterbed damages may not be covered. Check with an agent, as some policies may include these factors or coverage may be available to purchase.
How do I determine what coverage is right for me?
Most insurance companies have household inventory sheets to aid in calculating how much coverage is needed. Complete coverage may cost as much as two hundred dollars or less per year depending upon location. Shop around and compare prices. Renter’s insurance is a small price to pay for protection.
How do I get Renter’s Insurance?
It’s easy. If you have a car, talk to the agent who does your car insurance. Ask your family members for contact information for agents they have had good experiences with. Your realtor may also be able to give you some information on where to go as well.
How do I file a claim?
In making a claim for theft, there must be a police report. It is also a good idea to have a list and pictures of your belongings. Consult your policy and agent for specific details on protocol.
Check out these sites for more information regarding Renter’s Insurance:
- College Student Insurance: CSI Insurance Agency, Inc. has provided Northeastern students with insurance protection designed exclusively for college life. For more information, call 888.411.4911 or go to www.CollegeStudentInsurance.com.
- State Farm Insurance: State Farm renters insurance is for anyone who rents a home, be it a house or an apartment. For more information go to www.statefarm.com/insurance/renters/renters.asp.
- Progressive Insurance: Protect your apartment or rental house — and your possessions — with renters insurance from Progressive Home Advantage. For more information go to www.homeowners.progressive.com/renters-insurance-quote.aspx.
Disclaimer: Off-Campus Student Services provides information to Northeastern University students, faculty and staff members solely as a courtesy. Northeastern does not endorse any realtors or listers. Northeastern University accepts no responsibility for the accuracy or reliability of listings with the office. Contact with persons listed herein must be conducted independently and at your own risk.