The not-so-obvious reasons students need tenants insurance

The pizza delivery person is knocking at your door. You open the door and let him in the hall while you go grab your wallet. As he enters, he slips on your door mat, falls flat on his back and bumps his head. He saves the pizza though, so everything is fine, right?

Wrong!

Now he can't work because of a back injury and is taking you to court! What do you do?

Liability
Now there is a pretty good reason to have tenants insurance. As a student, this may be the first time you are living away from your parents and you need to know you're liable for anything that happens in your rental apartment. If your landlord doesn't salt the walkway in the winter, that is his negligence, but if you have unsafe conditions in your own living area, you are responsible if someone hurts themselves. If the injury is serious enough, you could end up paying damages in court.

Contents
This one seems obvious, but a large number of people who rent don't have insurance to cover the contents of their apartments. Some people really believe they are covered under the building owner's insurance policy if there is a fire or if someone breaks into their home. This is not the case.

If you leave the stove burner turned on and the place goes up in flames, you are responsible for all your own stuff. If you are insured - Great! If you are not you may have some problems. Would you have enough money to start over and replace all your belongings? What if your negligence caused damage in other units in your building? Could you pay for all those losses? It's something to think about.

Contents away from your home
Most people don't realize that property insurance covers your stuff even when it's outside your home. Let's say you are transporting your computer to the repair shop and your car is stolen. The computer and any other items not physically attached to the car aren't covered under your car's policy. Think about all the stuff you keep in your car - CDs, electronics, golf clubs. All of it is considered "property" in the eyes of an insurance adjuster.

See article "Why you need property insurance for your car" for more information.

Please Note - Some insurance companies have different rules about what is covered and under what circumstances. The above information is for general reference only. Please check with your insurance provider for exact coverage rules and regulations.