Here's a news release aimed at college students from the WNY Tri County Chapter of the American Red Cross, which serves Genesee, Orleans and Wyoming counties.
Here's a class you really should take!
Renter’s Insurance 101
Logic #1: I am in school; my parent’s insurance covers my stuff.
Reasoning: If you live on campus, your parent’s policy MAY cover your belongings, but if you have your own apartment, you are out of luck!
Logic #2: I can’t afford it and I don’t really have anything in my apartment.
Reasoning: According to the Insurance Information Institute, the average cost of a renter's insurance policy with $25,000 of property coverage and $100,000 in liability coverage only cost around $16 per month.
If you don’t think you own enough stuff to justify that, look around your room. CDs bedding, computer equipment, YOUR BOOKS! You can’t afford not to get it!
Logic #3: My roommate has renter’s insurance so I am covered.
Reasoning: Ah, good for you for getting a smart roommate. Too bad you think
his policy will cover your things -- it won’t!
Logic #4: My building is totally secure. No one can break into here!
Reasoning: Are you willing to bet your new Mac on that? Renters are 79 percent more
likely to be victims of burglary than homeowners.
Logic #5: My landlord is great -- he has my back!
Reasoning: Your landlord’s insurance covers structural damage. It doesn’t cover your belongings or legal obligations if something is damaged or someone gets hurt inside of your apartment.
PUT RENTER’S INSURANCE ON YOUR SHOPPING LIST TODAY!
