Liability Insurance for Off Campus Student

[Pink Partridge]

My son is moving off campus to an apartment. He just told me that he needs $100,000 liability insurance, per the landlord. The dorm insurance he had last year does not cover liability.



Does anyone have any suggestions where I could get the best price for liability ($100K) and personal property coverage (around $2500)?



I am paying for this as a gift for him. I was hoping to only spend $100 for the year.

 

[Praying Colonel]

My son is moving off campus to an apartment. He just told me that he needs $100,000 liability insurance, per the landlord. The dorm insurance he had last year does not cover liability.



Does anyone have any suggestions where I could get the best price for liability ($100K) and personal property coverage (around $2500)?



I am paying for this as a gift for him. I was hoping to only spend $100 for the year.

Is this renter's insurance? If so I'd recommend pricing it with the company you use for homeowners and/or vehicle insurance.

 

[robinb]

I've heard good things about Lemonade for renters insurance: https://www.lemonade.com/ .

 

[mjkacmom]

The renters insurance I got for my daughter and one of her roommates was $104 in total, I think it’s State Farm, there is a local office right by their campus.

 

[kymom99]

Is this renter's insurance? If so I'd recommend pricing it with the company you use for homeowners and/or vehicle insurance.

Yes you may be able to add it as a rider on your policy

 

[Mackenzie Click-Mickelson]

You could check your insurance as far as if they extend liability and personal property to his apartment usually there are rules for that and limitations on coverage on personal property outside of the primary residence. We did that for me but I was in-state and within a certain mileage from home. I was considered still part of the household for that reason while I was an undergrad. Each company and state rules vary on that. Your insurance company would also be able to tell you if they have to write a renter's policy instead.

When I was at the insurance company some states mandated minimum premium charges for renter's insurance and some mandated minimum limits/coverages.

 

[Mackenzie Click-Mickelson]

I've heard good things about Lemonade for renters insurance: https://www.lemonade.com/ .

My husband had that when we was working in CA last year and he found it quite cheap though he didn't need to make a claim he found the process very easy to sign up and get the necessary paperwork to the apartment complex.

However, they are not available in every state. They aren't available in our state for example though they are in the neighboring state we are right by.

--------------------------------------

For the OP:

They are available in the following states: Arizona, Arkansas, California, Colorado, Connecticut, District Of Columbia, Georgia, Illinois, Indiana, Iowa, Maryland, Massachusetts, Michigan, Missouri, Nevada, New Jersey, New Mexico, New York, Ohio, Oklahoma, Oregon, Pennsylvania, Rhode Island, Tennessee, Texas, Virginia, Washington, Wisconsin

They are not available in the following states: Alabama, Alaska, Delaware, Florida, Hawaii, Idaho, Kansas, Kentucky, Louisiana, Maine, Minnesota, Montana, Nebraska, New Hampshire, North Carolina, North Dakota, South Carolina, South Dakota, Utah, Vermont, West Virginia

https://www.lemonade.com/lemonade-goes-global

 

[cvjw]

We use StateFarm for our boys renters and liability insurance. The rate varies based on the address of the rental. We pay $115 for our college kid at UGA and $150 for our older son in midtown Atlanta. Coverage of $10,000 belongings and $100,000 liability.

 

[kdonnel]

Another recommendation for Lemonade. They were much cheaper then every other company I checked with.

 

[allison443]

When my dd lived in an off campus house by her college in NJ, I got her a policy through a local Allstate office for $100k liability coverage. It was around $100 for the year; we took out the policy in September and when her lease ended in June they gave a pro-rated refund since it was less than a year. The policy also included a minimum of $10k personal property coverage but she didn’t own anywhere near that amount. She wasn’t required to have insurance, but it was due to paranoia on my part lol.
This dd now rents an apartment in a nearby city and the landlord (large company which owns many large apartment buildings) requires insurance and recommended Lemonade. It was cheap according to my dd!

 

[mjkacmom]

When my dd lived in an off campus house by her college in NJ, I got her a policy through a local Allstate office for $100k liability coverage. It was around $100 for the year; we took out the policy in September and when her lease ended in June they gave a pro-rated refund since it was less than a year. The policy also included a minimum of $10k personal property coverage but she didn’t own anywhere near that amount. She wasn’t required to have insurance, but it was due to paranoia on my part lol.
This dd now rents an apartment in a nearby city and the landlord (large company which owns many large apartment buildings) requires insurance and recommended Lemonade. It was cheap according to my dd!

I had no idea that you could get a policy for 2 for the same price as 1. The rate I got was lowered when I lowered the personal property to $3000 each (because they have laptops, used furniture worth $200 and clothes).

 

[barkley]

just want to say that when you are looking at coverage limits-it may not seem like your college student has much in the way of personal property but it can add up quickly. in addition to computers, think about how much they spend on textbooks each quarter (seems like mine had at least $500 or $500 of liability for the rentals she would have to pay in full for if stolen/destroyed), cell phones, do they have any gaming systems? even if they are 'gaming lightweights' (as my kid refers to some) and only have one system and a dozen games-that's almost $1000 in and of itself. add in their bed (the one item most students get new vs. second hand), clothes (can any student replace all their clothing for whatever is left of a low end policy max after replacing their computer and such?), a few odds and ends of jewelry or other $$$ odds and ends (the appliances they got as gifts do add up-$50 here, $75 there)....it all adds up. the other thing to consider is how much adding even a small amount of 'loss of use' might run. if there's a fire or flood or something else that precludes your kid from being in their apartment it's sure nice to have hotel money immediately available.

bare bones runs around $100 a year near us, instead we pay $189 to get $20,000 personal property/$4000 loss of use/$300,000 personal liability.

 

[Pink Partridge]

Thank you so much, everyone! Your replies were great.

I got a policy with State Farm. It is $85 for the year. $300K liability and $5000 personal property. It does have a $500 deductible.