Renters Insurance protects you from the costs of replacing your personal belongings when they are damaged, stolen, or vandalized.
You may be surprised that Renters Insurance from Assurant Specialty Property is affordable. Based on a national average, premiums can be as low as $160 a year. (Cost is based on a $10,00 property coverage, $50,000 personal liability coverage, $100 deductible, and replacement cost. Rates and deductibles vary by state.) It's definitely cheaper than replacing all your possessions.
Plus, Renters Insurance can even cover you for personal possessions that don't happen to be in the apartment or house at the time of the loss. Your coverage will be worldwide.
For college students and their families renters insurance may be a better and more affordable alternative than relying on a family home owners insurance policy. Usually, home owners insurance has limitations that don't benefit students, such as: