Is Your Student Properly Covered?
As a parent or student, it is easy to overlook renters’ insurance until something gets stolen, broken, or damaged in a dorm or apartment. But how much coverage does a student really need? Do you need $5,000 or $25,000 in personal property protection? What about liability or loss of use?
This guide walks you through how to calculate the right amount of renters’ insurance coverage based on where your student lives and what they bring with them. Whether they are moving into a dorm, sharing an apartment, or heading out of state, you will be able to make a confident decision by the end of this article.
What Renters’ Insurance Typically Covers
Before calculating coverage, let’s quickly review what renters insurance actually includes:
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Personal Property Coverage: Covers belongings such as laptops, phones, clothes, bikes, and furniture if they are stolen, lost, or damaged by covered events like fire or water damage.
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Liability Protection: Covers your student if they accidentally damage someone else’s property or if someone gets injured in their rented space.
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Loss of Use: Covers extra living expenses (like hotels or meals) if their housing becomes unlivable due to a covered event.
The most important part to customize is personal property coverage, and that is what we will focus on first.
Step 1: Take Inventory of Belongings
The first step in estimating how much personal property coverage your student needs is to tally what they actually own and bring with them. You do not need an exact dollar amount, but a rough estimate helps.
Here is a basic category breakdown for most college students:
| Category | Typical Value Range |
|---|---|
| Laptop or computer | $700 – $2,000 |
| Smartphone | $300 – $1,000 |
| Headphones & gadgets | $200 – $600 |
| Clothing & shoes | $1,000 – $3,000 |
| Backpack & gear | $100 – $300 |
| Small furniture | $200 – $1,000 |
| Kitchen items | $100 – $300 |
| Textbooks & supplies | $300 – $1,000 |
| Bike or scooter | $200 – $800 (if applicable) |
Estimated total: $3,000 to $9,000+
Pro Tip: Use your smartphone to take a quick video walkthrough of the dorm or apartment after move-in. It can help with claims later.
Step 2: Consider Housing Type
Where your student lives affects how much coverage they need:
Dorm Room
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Usually smaller, fewer valuables
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Coverage needed: $5,000 to $10,000
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Off-Campus Apartment
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May include more furniture and electronics
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Coverage needed: $10,000 to $20,000
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Shared House or Roommates
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More square footage and shared responsibility
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Coverage needed: $15,000 to $25,000+
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Reminder: Your child’s belongings are not covered by roommates’ renters’ policies. Each tenant should have their own policy unless specifically listed.
Step 3: Don’t Skip Liability Coverage
Liability coverage is often overlooked, but it is critical.
Let’s say your student accidentally starts a kitchen fire or someone trips and gets hurt during a party. Liability coverage can pay for medical bills, repairs, or even legal defense.
Suggested Liability Coverage:
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Standard: $100,000
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Better: $300,000 (usually only a few dollars more per year)
Step 4: Add Loss of Use and Extras
Most policies include Loss of Use at about 20 to 30 percent of the personal property limit. That means:
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$10,000 in personal property = $2,000 to $3,000 for temporary housing and meals
Also, look for these useful extras:
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Replacement Cost Coverage: Pays the full cost to replace an item, not just its depreciated value
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Scheduled Property Endorsements: If your student has a high-end laptop, musical instrument, or jewelry, you may want to list it separately
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Identity Theft Protection: Some providers offer this as a free or low-cost add-on
Step 5: Match the Coverage to the Budget
Renters’ insurance for students is surprisingly affordable, typically costing $10 to $20 per month.
Here’s a quick guide based on needs:
| Situation | Suggested Personal Property | Monthly Premium Estimate |
|---|---|---|
| Light dorm setup | $5,000 – $10,000 | $10 – $12 |
| Off-campus apartment with gadgets | $15,000 – $20,000 | $12 – $18 |
| Shared house with high-value items | $25,000+ | $15 – $25 |
Tip: Avoid over-insuring. Coverage should match what they own, not what everything costs new in a store.
Explore More Student Insurance Questions:
FAQs
Q: What happens if I pick too little coverage?
You may not be reimbursed for the full value of lost or damaged items. It is always better to round up slightly rather than risk being underinsured.
Q: Can I update coverage later?
Yes. Most providers allow you to change coverage levels during the policy term—perfect if your student upgrades tech midyear.
Q: Is my student covered under my homeowners policy?
Sometimes, if they live in a dorm and are under a certain age. But off-campus housing usually requires a separate renters’ policy.
Q: What if we bundle it with auto insurance?
You might get a discount. Many providers offer bundle savings if your student is on your car insurance.
Final Thoughts: Coverage That Matches Real Life
Choosing the right amount of renters’ insurance does not have to be a guessing game. Start by adding up your student’s valuables, consider where they live, and pick coverage that offers peace of mind without overpaying.
In most cases, $10,000 to $20,000 in personal property, $100,000 to $300,000 in liability, and replacement cost protection is a smart place to start.