6 reasons why renters insurance is essential for college students

For young people, college is full of new experiences: It's often the first time living away from home, giving a taste of independence with the first step into adulthood and new responsibilities. One of those responsibilities is keeping their belongings safe and secure. It's something they probably haven't had to think about before.

When you consider everything a college student brings to school — a laptop, backpack, gaming console, bike or skateboard, mini-fridge, ear buds, smartphone, expensive sneakers-of-the-moment and other expensive clothes and accessories, even a TV and other technology, it adds up to a hefty price tag if any or all of it needs to be replaced.

That's why insurance specifically designed for college students, like GradGuard's College Renters Insurance, is worth a look. It provides peace of mind for students at a low cost that might surprise their parents.

Here are six reasons why renters insurance is a good idea for college students.

Theft is out there. According to Clery Act Reports, an average of 24,000 crime and safety incidents are reported every year on college campuses nationwide. Even if dorms provide a layer of security, there is always the possibility your student will get back to their dorm room after a long day of classes only to realize their bike lock was cut, and their bike was stolen. Or return to their study table in the library to find their laptop has walked out the door.

College life needs liability insurance ... Imagine life in a typical college dorm room — kids throwing the football around and hitting the sprinkler head, hanging clothes from it, or some other accident causing it to discharge. That water can damage belongings, electronics and even the dorm room itself.

... but liability isn't only for college shenanigans. Insurance with liability coverage can also protect students from other events in which they may be found liable for damage to the property of others.

Renters insurance is surprisingly affordable. GradGuard's College Renters Insurance starts with an affordable $100 deductible. This means that if the worst happens, you won't have a high deductible to pay before your coverage kicks in. With homeowners' deductibles typically ranging into the thousands, this is an affordable choice.

It's not confined to the dorm room, campus or even the country. With GradGuard, your student gets worldwide property coverage. Studying abroad? Covered. Home for the weekend? Covered. Traveling for a school project? Covered.

It can teach your student a valuable lesson about adult life. Many parents take out renters insurance for their kids who are away at college. But the policy is affordable, the deductible is low, you can choose monthly or annual plans, and there is no credit score requirement. Why not have your student take out the policy on their own? Sit down and have a conversation about the importance of insurance now, while they're in college, and into the future. These good habits will last a lifetime.

With renters insurance designed for students, parents can have peace of mind knowing they are protected, and college students can focus on what they're in school to do: learn. See plans available through GradGuard today.

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