For the cost of around $10-15 per month, students living off-campus can protect their personal belongings and property in cases of perils like theft, vandalism and fire and water damage with a renters insurance policy.

According to Scott Robblee, the agency owner of the Robblee Agency of Corvallis and the Robblee Agency of Salem, many landlords in Corvallis require a renters insurance policy. Robblee described renters insurance as a homeowner’s policy for those who don’t own their home, and said renters insurance protects tenant’s belongings and provides them with liability protection.

“If you have friends over and someone trips over a laptop cord and injuries themselves, this could pay for their bills.” Robblee said via email. 

According to Robblee, renters insurance can cover tenants in numerous situations. 

“There are a billion different scenarios in which your policy will come to your defense if you screw up.”

Babette Langdon, owner and agent of the Langdon Group Allstate Agency, recommends that students obtain renters insurance, even if their landlord does not require it.

“We all have belongings, and replacing them if they are stolen or damaged outside of our residence can be a very costly expense,” Langdon said via email. “Also, accidents happen, usually at the least convenient times. Insurance is designed to take the risk away from the consumer and pay an insurance company to absorb that risk thereby protecting you and the things you own.”

Renters insurance coverage also typically protects tenants from loss when they are away from their home, such as a hotel. Robblee said renters insurance liability is there when it is needed — when students travel, go away on vacation, or head home for the summer. 

Langdon said a typical policy covering $20,000 of personal property is approximately $12 a month, and that a policy can easily be obtained through most insurance carriers with a 20 minute phone call. 

“Call your insurance company. They’ll have a renter’s policy almost every time,” Robblee said via email.