Personal Property (Renter's) Insurance
The University does not insure student belongings and is not liable for loss or damage. Students are encouraged to check with their family’s insurance provider to determine how their homeowner’s/apartment dweller’s policy might cover their personal property. If this coverage is not provided, students may wish to consider obtaining personal renter’s insurance.
What is renter’s insurance?
Renter’s insurance is insurance that pays for your or others’ personal property if it is damaged or stolen. Renter’s insurance can cover losses due to theft, vandalism, damage from explosions, water damage, fire and smoke damage, and much more whether you are at fault or not.
Does the University have insurance for residence halls and campus apartments?
Yes. The University does have insurance for our facilities and it covers damage to the building, but it does not insure your personal belongings and damage to others' property if you are found liable for the damages.
I don’t own very much.
Most people think they don’t own enough or what they do own isn't valuable enough to insure. Once you take an inventory of your personal property, you may be surprised by the value of your possessions. Take a look at your inventory and ask yourself, “Can I afford to replace all of these things if they are stolen or destroyed? Would I also be able to replace my neighbor’s and the University’s property if I am found liable for the damage?"
How much does it cost?
Prices vary by provider and all the factors listed above will affect the cost, but a ballpark price for $50,000 of coverage is around $7-10 per month. Most insurance companies have a number of options for property and liability coverage allowing you to select the policy that fits your needs and your budget. Be sure to ask your insurance agent for complete details about:
- Contents coverage
- Replacement value coverage
- Living expense coverage
- Liability and theft
- What is not covered
- Deductibles and payment options
- Discounts for multiple policies and safety equipment including controlled-access buildings, fire or smoke alarms, fire extinguisher and sprinkler.
Insurance Information Institute: http://www.iii.org
Renter's Insurance: Why It's Worth It from The Simple Dollar's insurance education portal.
2013 Homeowners Insurance Reviews: http://www.reviews.com/homeowners-insurance/
DISCLAIMER: CARSON-NEWMAN UNIVERSITY PROVIDES INFORMATION REGARDING RENTERS INSURANCE FOR YOUR CONVENIENCE ONLY. THE UNIVERSITY MAKES NO REPRESENTATION AS TO THE CONDITION OR SUITABILITY OF ANY OF THE LISTED RESOURCES OR ESTABLISHMENTS, NOR DOES IT ASSUME RESPONSIBILITY FOR THEIR CONDITION OR RELIABILITY, OR FOR ANY AGREEMENTS YOU ENTER INTO WITH THEM. THE INFORMATION LISTED ABOVE IS NOT INTENDED TO PROVIDE LEGAL ADVICE, AND IT SHOULD NOT BE USED AS SUCH.