The insurance can help pay for property damaged in a fire or stolen. And replacing clothes, furniture and electronic gadgets adds up.
College students who are already shopping for laptops, textbooks and other campus gear may want to add something else to their list: renter’s insurance.
The insurance can help pay for personal property that is stolen or damaged by accidents like fires from cooking. It offers liability coverage to help cover medical and legal costs if someone is injured at your place or someone’s belongings are damaged. And some policies pay for a hotel and meals, if a calamity leaves the property unlivable.
Students may not think they have much gear, but replacing clothes, furniture and electronic gadgets adds up. A stolen backpack with a laptop, tablet and textbooks can easily total $3,000, said John Fees, co-founder and managing director with GradGuard, which markets student renter policies.
Students living in dorms may have