Why College Students Need Renters Insurance

We are all in back-to-school mode. You and your parents are likely overwhelmed by the college life you have entered.

Going to college brings a lot of new information and experiences. In the excitement of this transition, you or your family members may not consider some things. One of the most important things to consider when settling into your new residence hall, apartment, or condo is renters insurance.

Why, you may ask? As a student, you can bring thousands of dollars worth of possessions to school, from electronics to books to laptops and even furniture.

If your laptop gets damaged or stolen, how would you replace it? What about your clothes if your dorm room floods? These items may not break the bank to replace individually, but the costs can definitely add up!

Have you ever thought about what ALL of your stuff costs, together, all at once? It may surprise you!

That is why taking an inventory of what you bring with you to school is so important. The data collected over the last few years estimates that the total estimated cost of living per year for students, including food, housing, clothing, phone plan, and other things, is around $14,435, with an additional $2,316 on personal items.

The Break Down

Before you head off to school, purchasing many new things to go into your dorm room or apartment isn’t unusual.

These dorm room items can include:

  • Bedding: Sheets, Pillows, blankets, duvets
  • Bath Items: Towels, robe, caddy, shower shoes
  • Decorations and other personal Items
  • Appliances: Microwave, TV, mini-fridge
  • Study Supplies: Calendars, planners, desk accessories
  • Storage: Drawers, baskets, bins, containers
  • Electronics: Gaming devices, iPads, speakers, streaming devices, cameras, computers, hard drives, headphones

These are just a few examples of what you can bring to campus, and when all is added up, it can cost thousands of dollars. This doesn’t include your personal property items such as clothes, bags, shoes, and other things you have collected over the years that are important to you.

With such a wide range of prices on these items, leaving them unprotected should something unexpected happen isn’t worth the risk. That’s why student dorm insurance is essential for any college family to consider.

GradGuard: The Smart Choice

Colleges, universities, and off-campus property management companies don’t replace stolen bicycles or backpacks, but GradGuard College Renters Insurance can. Our coverage provides unique student-focused coverage through an exclusive student endorsement. This means you can get access to features not available in a standard homeowners insurance policy or offered by other companies.

Here are a few examples of GradGuard’s student-focused features:

  • Low Deductible – Our standard deductible offer is only $100 when you file a claim, no matter the item.
  • No Credit Score – We understand that students may not have a great credit score. Therefore, we don’t require credit scoring. No matter your credit history, everyone on campus receives the same price.
  • Worldwide Personal Property Coverage – Your belongings, including rented property, can be protected from covered perils anywhere in the world! If you are traveling home from school or studying abroad, GradGuard has got you covered.
  • Personal Liability Coverage – If you are hurt or unintentionally damage your residence, we may be able to help.

Unlike other renters insurance providers, GradGuard College Renters Insurance was made with students in mind. If you file a claim, your rates won’t increase, and there are no sneaky sub-limits on electronics coverage. Our coverage protects physical items you bring to college (up to the policy limits) from things like theft, fire, smoke, vandalism, wind, sprinkler system discharges, and more.

You can also view a sample policy to learn more about the specifics of our coverage.

Other Considerations

Homeowners Insurance for Student Housing

If you are not the first person in your family to head off to college, you and your parents may think you have everything under control. Your parents’ first instinct may often be to look into their current home insurance. This is important to look at, but the coverage it can offer you as a student away at school may not be enough. A homeowner’s insurance policy typically covers only some of your possessions and often has very high deductibles.

A big downside of using this coverage is that making a claim on the homeowner’s policy may raise premiums. Homeowners’ policies often have limits, exclusions, and conditions. This can make them unreliable to cover you and your belongings while you’re at school.

You may be better off replacing that couple thousand-dollar laptop out of pocket. Or even better, opt for GradGuard!

Landlord Protection Student Personal Property

Many parents believe the landlord will cover damages when it comes to liability. More often than not, a landlord’s insurance only applies to the building itself, not the resident’s possessions within. Double-check with the landlord and ask what their insurance policy would cover should a theft or other disasters occur. Having your own insurance policy is a great way to protect the things you bring to school.

Another common myth is that renters insurance is too expensive and unnecessary. Even though it is an added expense, the benefits outweigh the costs should any disaster occur, and your belongings suffer damages that could put you out thousands of dollars to replace on your own. Renters insurance is a great way to prevent significant financial loss and encourage students to start thinking responsibly about their belonging and move towards adulthood.


College student insurance is a crucial investment for any student. It provides peace of mind and financial security in case of unexpected accidents or health issues. With the wide range of options available, it’s essential to research and compare policies to find the best fit for your needs. By obtaining proper coverage, students can focus on their studies and enjoy their college experience to the fullest.