A laptop, a bike, a phone and a semester of textbooks — students carry $3,000–$8,000 of stuff and most of it is uninsured by default.
Dorm vs apartment — different rules
| Situation | Typical coverage |
|---|---|
| On-campus dorm | Often covered under parents’ homeowners policy (usually ~10% of personal property limit) — check the policy |
| Off-campus apartment | Parents’ policy usually does NOT extend — a standalone renters policy is needed |
| Standalone student policy | $10–$18/month typical for $20,000–$30,000 coverage |
What students should actually insure
Count it up: laptop $1,200, phone $800, bike $400, monitors and peripherals $500, clothing and bedding $1,000+, textbooks $400. Most students underestimate by half. Also confirm theft from a shared space and bike theft outside are covered — they are on standard policies, but sublimits can apply to bikes.
Frequently Asked Questions
Do college students need renters insurance?
Off-campus: yes, effectively — the landlord’s policy covers the building, not student belongings, and parents’ homeowners usually stops extending once the student has a separate residence. On-campus dorms are often covered under the parents’ policy.
How much is renters insurance for a student?
$10–$18 monthly for $20,000–$30,000 of personal property with $100,000 liability — often cheaper if bundled with the parents’ auto insurer.
Does renters insurance cover a stolen laptop?
Yes, theft is a core covered peril, subject to your deductible. File a police report for thefts above trivial amounts — insurers require it for electronics.
Can three roommates share one policy?
Technically only named insureds are covered — roommates not on the policy get nothing. Either each buys their own (cleanest) or all names go on one policy (cheaper but claims history becomes shared).