Along with a futon, textbooks and a computer, college students escaping dorm life for an apartment need to consider one more important purchase before they head back to school -- renters insurance.


"For many students, part of experiencing college is living on their own for the first time," said Kathy McDonald, senior vice president of Assurant Specialty Property. "You never know what to expect. You could end up with an accident-prone roommate or forget to lock your doors and get robbed."

Renters insurance can help protect expensive personal electronics as well as furniture and textbooks in the event of a burglary, fire or other mishap. Many policies also include personal liability coverage, which limits your financial exposure should you damage your apartment accidentally or someone is injured at your place.This coverage is actually a requirement at more and more apartments.

Many students do not do enough homework when it comes to renters insurance. Erroneously, they may think they are protected by their parents' or landlord's insurance policies. The landlord's insurance won't cover personal belongings of tenants if something goes wrong and parents' homeowners policy may not protect students living in off-campus housing.

Cash-strapped students may worry about the cost of insurance and assume they can get by without it. That could be an expensive mistake. Renters insurance from Assurant Specialty Property can cost as little as $13 per month. The cost of not having coverage can be much, much higher and mean replacing thousands of dollars worth of items.

"If you are a college student already pinching pennies, having your property stolen or damaged can be financially devastating. You may not have the money to replace all those items," said McDonald. "Those expenses should be the least of your worries when dealing with emotionally stressful events. Renters insurance provides you peace of mind so there is one less thing to worry about."

For more information on Assurant Specialty Property's renters insurance go to