Rental Guide: Renters insurance covers students’ valuables

When Pitt junior Wesley Washington returned to his North Oakland apartment last year after… When Pitt junior Wesley Washington returned to his North Oakland apartment last year after winter break, he discovered a few things missing.

“Someone broke into our house and stole a TV and video games,” Washington said.

Soon after, Washington contacted a representative from his renter’s insurance agency who sent him a check to replace his valuables. Washington said that, especially after this incident, he will continue to invest in coverage.

But not all Pitt students sign up for renter’s insurance when making the move off campus. The investment is voluntary on some leases, but, if choosing to make the monthly payment, a student can expect coverage for personal property, the apartment itself and any injuries that occur on the rented property.

Pittsburgh State Farm Insurance agent Melisha Hutchins said she believes renter’s insurance is always necessary and usually runs a renter between $8 and $20 a month depending on which plan is chosen. Allstate’s renters insurance policies start at $17 a month.

“Think about all the things you pay in bulk for: your laptop, your phone and other important things. If you should be robbed or have something taken from you, you should have coverage,” Hutchins said. “There’s a deductible that applies, but if you suffer a loss that is not your fault, the cost won’t even be a portion for

what you will be reimbursed.”

Renter’s insurance can cover the loss of possessions such as clothing, furniture, televisions, computers, iPods and jewelry as well as damage or theft that occurs either inside or outside the home.

Hutchins said that even if a student’s laptop is stolen while he is using the device at the library, renter’s insurance will cover the cost of the computer.

In addition to insuring personal property, a basic renter’s insurance policy should cover damage to property, including damage due to instances of fire, lightning, windstorms, smoke, vandalism, theft or discharge of water.

Hutchins advised students to think about the security deposit that renters pay at the beginning of their lease. If damage is done to the property, no matter the cause, renters will usually not receive their security deposit back from the landlord.

Pitt’s Off-Campus Living website cautions students to read their leases with the utmost scrutiny in order to find out what damages are the renters’ responsibilities versus what is covered by the landlord in the lease. Landlords can stipulate that renters purchase insurance as a condition of occupancy in the lease, and many landlords who rent to students include a Waiver of Liability clause in the lease in which they deny responsibility for tenants’ belongings.

“Most times the student is not [covered] under the landlord’s policy,” Hutchins said. “They should look for third-party insurance companies.”

Although renters insurance may be purchased at any time, Hutchins said it’s better to get it early on when renting. She added that she believes even cheap or second-hand items are worth insuring.

Sophomore Anna Occhipinti lives off campus and did not purchase renter’s insurance because her current possessions didn’t come with big price tags.

Occhipinti said that the furniture in her off-campus apartment includes a $20 coffee table and “a couch that we’ll probably throw out.”

“The premium is higher than the value of our possessions,” she said.

But Hutchins disagrees.

She said that even for students who own $1,000 worth of valuables, “it is definitely worth it to pay the $8 a month for insurance.”