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College students may need renters insurance depending on coverage and landlords
Yahoo Finance notes that off-premises coverage under many parent policies is often limited, with one common structure offering up to 10% for items kept at school.
Renters insurance needs for college can vary based on where a student lives, whether they are covered under a parent’s policy, and the cost to replace personal belongings, according to Yahoo Finance.
The outlet says students in on-campus dorms or fraternity and sorority housing may already have some coverage through a parent’s homeowners or renters insurance, especially for off-premises personal property.
For students living off campus, Yahoo Finance reports they are more likely to need their own policy, including because some landlords require renters insurance before move-in.
Yahoo Finance also cites National Center for Education Statistics data showing burglaries account for about 28% of reported on-campus crimes, and notes that “away from home” coverage under many policies is often capped, with examples of policies offering up to 10% off-premises coverage for belongings kept at school.