Until now, your college grad probably lived in a dorm room or shared an apartment with other students. Now, it’s time for them to make a home in their first apartment or rental home.
New renters often don’t understand that the landlord’s insurance does not cover their belongings. Be sure they have enough insurance coverage whether renting or owning a home.
While some apartment complexes offer renter’s insurance, this coverage may not offer water backup or provide coverage for personal property such as flat screen tv’s, computer equipment, or other expensive electronics.
Renter’s insurance protects your child from losing everything they are working so hard to obtain. Click here for more specifics on renter’s insurance.
We highly recommend that your child should make an inventory of their belongings (including the values of everything) to be sure they have enough coverage to replace their belongings in the event of a disaster.
At the very least, make a video of each room and the contents to have a record of all belongings. The total they reach after surveying all their belongings is the amount of renter’s Insurance that they should purchase.