To help determine how much coverage you need, make a comprehensive list of your possessions, including purchase prices, model numbers and serial numbers. The premiums for renters insurance average between $15 and $30 per month depending on the location and size of the rental unit and the policyholder's possessions.
If you are a student and are a dependent on your parent's insurance policies, your parents should check with their homeowner's insurance company to determine whether your belongings will be covered under their policy. Some policies automatically extend coverage to any resident of a policyholder's household who fits the definition of a 'domestic partner.' Otherwise, consider carrying separate coverage for each of the adult tenants. If you live with roommates, research the possibility of purchasing a renters insurance policy together. If you live in a rented apartment, house or condominium, your landlord's insurance doesn't cover your personal property, such as your electronics, bicycle, jewelry, or furniture, in the event that it is damaged, destroyed, or stolen.
