Chances are that you and your family members already have a number of insurance policies in your name: Health, Homeowners, and Automobile insurance are some of the most common.

Renting an apartment or house is no different - you can purchase insurance for your personal property for the duration of your residence in a particular location.

The following clause from the University Apartment lease details a tenant's responsibility for his or her personal property; a statement of this type can be found in virtually any rental or housing agreement / lease:

3.4 Landlord not liable for property damage or loss. Tenant expressly agrees that Owner, Landlord, and Agent shall not be liable to Tenant or others, including Tenant’s guests, occupants and invitees, for any damage to or loss of any personal property located in or about the premises, or the building of which the premises are a part, where said damage or loss results from any cause whatsoever, other than the negligent acts of Landlord. It is the responsibility of the Tenant to provide insurance for their personal property.

While not required, it is highly recommend that students purchase renter's insurance for their personal property.  Renter's insurance can typically be added to an existing insurance policy at a relatively low cost.

While coverage certainly varies by company and policy, renter's insurance may cover loss due to fire, water damage, theft, etc.; this coverage may even extend outside the residence.

The University Apartments office recommends that you inquire with an insurance company as to the benefits, costs, and coverages offered by a renter's insurance policy.