Does renters insurance cover temporary housing costs?

Yes. A renters insurance policy can help you pay for temporary housing costs after a covered event. For example, if a fire makes your apartment uninhabitable, your insurance company can likely help you pay for your temporary living situation.

Does renters insurance cover damage to your laptop?

It’s possible. Renters insurance may cover damage to your laptop in certain situations. For example, your coverage will likely cover your laptop following theft or damage from an apartment fire or natural disaster. Your insurance company won’t cover everyday wear and tear.

Is renters insurance worth it?

Renters insurance is often worth it for many renters due to its affordable price point. If you’re a renter, you should take the time to get and compare quotes. You may find you can get robust renters insurance at a relatively low price.

Does your child at college need any additional insurance policies?

When children head off to college, a renters insurance policy can provide coverage for potential catastrophes on campus. After a natural disaster or other covered event, this type of policy helps pay to replace your child’s items.

Renters Insurance for College Students

Written bySarah Sharkey

Sarah SharkeyInsurance Writer

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Edited byKatie Powers

Katie PowersSenior Editor

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3+ years experience in insurance and personal finance editing

Katie uses her knowledge and expertise as a licensed property and casualty agent in Massachusetts to help readers understand the complexities of insurance shopping.

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Updated January 21, 2025

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Coverage importance
What it covers
Costs
Coverage amount
Roommate coverage
FAQs

Coverage importance
What it covers
Costs
Coverage amount
Roommate coverage
FAQs

Renters insurance can help pay to replace personal items after covered events, like fire and theft. This coverage also provides liability protection for accident-prone students.

Renters insurance can be helpful for students living off campus or in shared housing. At a relatively affordable price, this type of insurance policy can be well worth the monthly cost.

Here’s what you should know about renters insurance for college students.

Quick Facts

A renters insurance policy with $30,000 in personal property coverage and $100,000 in personal liability coverage costs $20 per month, on average.
Renters insurance typically includes personal property protection, additional living expenses, and liability insurance.
Colleges don’t typically require students living in dorms to carry renters insurance.

The importance of renters insurance for college students

You’ll likely bring some of your most valuable possessions with you to college. Renters insurance can help you replace your belongings after covered incidents. This includes scenarios like theft, accidents, or natural disasters that affect your dorm or off-campus housing.

Unfortunately, many college students experience theft of their items each year. Bike theft is especially prevalent around some campuses. Other common issues include laptop theft and accidental damage to student property.

For example, renters insurance can pay for replacement following laptop theft or damage.

Good to Know

Beyond protecting your property, a renters insurance policy includes liability coverage. Your insurance company can help pay for out-of-pocket costs if you cause accidental damage to someone else’s property or cause injuries to someone else.^[1]

Do you need renters insurance if you live in a college dorm?

If you live in a dorm room, it’s unlikely that your college or university will require you to purchase renters insurance. But if someone steals something from your dorm room, your university won’t be responsible for replacing your personal belongings. Instead, you may have to cover your own replacement costs out of pocket.

In some cases, your parents’ home insurance policy will cover personal property in your dorm room through “off-premise” coverage. Home insurance policies generally have lower limits for personal property stored outside of the home, including your dorm room possessions.^[2]

For example, if your parents have $100,000 in contents coverage through their home insurance policy, it may cover some of your belongings away at school up to a cap of 10% or similar. In this example, your parents’ coverage might only cover your items up to $10,000. You’ll need to read the fine print of your parents’ policy to know for sure.

In general, it’s a good idea to purchase renters insurance for the peace of mind that comes with this relatively affordable coverage.

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Do you need renters insurance if you live off campus?

Although states don’t legally mandate tenants to purchase renters insurance, some landlords require tenants to purchase coverage before moving in. If you live off campus, your landlord likely has landlord insurance that covers the property but doesn’t cover your personal belongings.

Renters insurance does cover the cost of replacing your possessions after a covered incident. For students seeking peace of mind about the security of their items and protection against liabilities, renters insurance is a worthwhile purchase.

In some situations, your parents’ home insurance policy will cover your items stored in off-campus lodging. But you’ll need to explore the details of the policy to check.

What renters insurance covers for college students

Renters insurance covers a range of protections for college students. Coverage generally includes the following:

Personal property
Personal property coverage can help you replace your items following theft or damage from a covered incident. For example, this can cover the costs of replacing a stolen laptop.
Personal liability
If you accidentally damage someone else’s property or injure someone, liability coverage can help you pay for the necessary repairs or medical bills. For example, if you accidentally damage your neighbor’s bike, this coverage could help pay for repairs.
Additional living expenses
If your residence is uninhabitable after a covered event, like a fire, additional living expenses coverage can help you pay for another place to live. For example, this could help you pay for a hotel stay after a dorm fire.^[3]

It’s worth noting that renters insurance may not cover certain big-ticket items, like jewelry, guns, or antiques. For high-value items, you’ll likely need a separate policy or an add-on for coverage if you want coverage.

Cost of renters insurance for college students

Renters insurance for college students is relatively affordable. A policy with $30,000 in personal property coverage and $100,000 in personal liability coverage costs an average of $20 per month.

Although renters insurance is generally affordable, your exact cost of coverage will vary depending on your location, coverage limits, deductible, and more. For most college students, fitting renters insurance into their budgets is a possibility. The average monthly cost is on par with the cost of many popular streaming services.

How much renters insurance coverage do college students need?

The exact amount of coverage you need varies depending on the value of your items. Use the tips below to help you decide on the right coverage amount for your personal belongings.

Inventory your possessions. Start by taking a video of your belongings. As you start to go through things, you might realize your stuff is worth more than you think.
Make a list of big-ticket items. Add up the cost of pricey items, like your laptop or TV, to get a better idea of what level of coverage you need.
Assess your liability. If you frequently host parties or the value of your assets exceeds the liability limits for your policy, you might want to purchase more coverage than the relatively standard $100,000.

Once you know the estimated value of your items, you can choose a coverage limit that will help you replace them if the worst-case scenario occurs.

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Does renters insurance cover shared housing and roommates?

Renters insurance generally doesn’t cover unrelated roommates. But policies do typically cover the insured party’s immediate family.

For example, if you live with a spouse or children, renters insurance will likely cover them. But if you’re living with friends, it’s unlikely that your renters insurance will cover them, unless you have them listed as a named insured.

If your landlord requires each tenant to have their own policy, it’s important to make sure your roommates get their own policy. Your own policy may not cover damages your roommate caused.