• Skip to primary navigation
  • Skip to main content
  • Skip to primary sidebar
  • Skip to footer

The College Investor

Student Loans, Investing, Building Wealth

  • About
  • Podcast
  • Research
  • Contact
  • Save For College
      • How To Start

      • How To Save For College
      • How To Pay For College
      • What Is the Average Cost of College?
      • What Is A 529 Plan and Where to Open One in Your State
      • How Much Should You Have In A 529 Plan By Age
      • How To Use A 529 Plan For Private Elementary And High School
      • What Are Qualified Expenses For A 529 Plan (And What Doesn’t Count)?
      • The Best Brokers To Open A 529 Plan
      • Tools + Accounts

      • 529 Plans: The Ultimate College Savings Plan
      • 529 Plan Contribution Limits
      • Prepaid Tuition Plans | What To Know
      • Understanding And Using 529A ABLE Accounts
      • Using A Roth IRA To Save And Pay For College
      • FAFSA Deadlines for Financial Aid
      • CollegeBacker Review
      • Upromise Review
      • UNest Review
      • Other Options

      • Student Loan And Financial Aid Programs By State
      • The Guide To Military And VA Education Benefits
      • How To Fill Out The FAFSA
      • How To Find College Scholarships
      • The Best College Scholarship Search Websites
      • How To Find Grants To Pay For College
      • Pell Grants: What They Are And How To Qualify
      • Understanding Federal Work-Study
      • How To Use A 529 Plan If Your Child Doesn’t Go To College
  • Student Loans
      • Borrowing

        • How Student Loans Work
        • How To Apply For A Student Loan
        • Best Student Loans And Rates In January 2023
        • 10 Best Private Student Loans Of January 2023
        • Best Student Loans To Pay For Graduate School
        • Best Student Loans To Pay For Medical School
        • Parent Loans To Pay For College
        • No-Cosigner Student Loan Options
        • Guide To Income Sharing Agreements (ISAs)
        • Best International Student Loans
      • Get Out Of Debt

        • Best Student Loan Refinance Companies In January 2023
        • Best Student Loan Repayment Plans
        • Best Student Loan Refinancing Bonuses And Promotional Offers Of January 2023
        • Student Loan Forgiveness Programs (The Complete List)
        • The Full List Of Student Loan Forgiveness Programs By State
        • Public Service Loan Forgiveness (PSLF)
        • Top Student Loan Scams
        • Average Student Loan Monthly Payment
        • Average Student Loan Debt By Year
      • Reviews

        • Credible Review
        • Splash Review
        • Ascent Review
        • Citizens Bank Review
        • Commonbond Review
        • Earnest Review
        • ELFI Review
        • Laurel Road Review
        • LendKey Review
        • SoFi Review
  • Investing
      • How To Start

        • How To Start Investing in High School
        • How To Start Investing In College
        • How To Start Investing In Your Twenties For 22 – 29 Year Olds
        • How To Start Investing In Your 30s For 30 – 39 Year Olds
        • How To Start Investing With $100 Or Less
        • How To Give Kids The Gift Of Stock
        • What Is Dividend Growth Investing
        • IRA Rollover Chart
      • Tools + Accounts

        • Best Online Stock Brokers
        • The Best Traditional And Roth IRA Accounts
        • The Best Robo-Advisors
        • The Best Investing Apps
        • The Best Places to Trade Options
        • The Best Places To Open A Health Savings Account
        • The Best Solo 401k Providers
        • The Best Self-Directed IRA Providers Of 2023
        • Best Cryptocurrency Exchanges
      • Reviews

        • Vanguard Review
        • Fidelity Review 2023
        • M1 Finance Review
        • TD Ameritrade Review 2023
        • Charles Schwab Review
        • Robinhood Review
        • Webull Review
        • Betterment Review 2023
        • Wealthfront Review
  • Earn More Money
      • Extra Income

        • 20 Best Side Hustles You Can Start Earning With In 2023
        • 53 Side Hustle Ideas To Make Money Fast
        • 100 Ways To Make Money In College
        • 80 Ways To Make Money From Home In 2023
        • 5 Quick Money Making Ideas (That Take Less Than 1 Hour)
        • 10 Interesting Ways You Can Make Money Driving
        • High-Paying Side Gigs That Earn $1,000 or More Per Month
        • The 10 Best Money-Making Apps
        • Paid Surveys: Earn Money For Giving Your Opinion Online
        • 10 Crazy Ways To Make $10,000 You’ve Never Heard Of
      • Build Wealth

        • 40 Passive Income Ideas You Can Use To Build Wealth In 2023
        • 3 Ways To Make $50,000 Per Year Without Working With Passive Income
        • How To Become A Real Estate Investor With Just $500
        • 15 Best Online Business Ideas
        • Residual Income: 7 Super Smart Ways to Build It
        • The Most Common Multiple Income Streams
        • How To Become A Real Estate Mogul With Only $10,000
      • Reviews

        • Fundrise Review
        • RealtyMogul Review
        • FarmTogether Review
        • AcreTrader Review
        • Swagbucks Review
        • Survey Junkie Review
        • TopCashback Review
        • DoorDash Review
  • Personal Finance
      • Banking

        • 10 Best High Yield Savings Accounts Of January 2023
        • 10 Best Money Market Accounts Of January 2023
        • 10 Best Free Checking Accounts In January 2023
        • Best Bank CD Rates Of January 2023
        • 10 Best Business Checking Accounts In January 2023
        • Best Online Banks Of January 2023
        • Best Credit Unions Nationwide Of January 2023
        • Best College Student Checking Accounts Of January 2023
      • Insurance

        • Best Life Insurance Companies
        • Renters Insurance
        • Car Insurance
        • Pet Insurance
        • Umbrella Insurance
        • Disability Insurance
        • Tuition Insurance
        • Travel Insurance
      • Credit Tools

        • Best Budgeting Apps
        • Cash Advance Apps
        • How To Get A Free Credit Score Report
        • Best Credit Monitoring Services For 2023
        • Debt Settlement: Inside The Secret World
        • Credit Repair Explained: Should You Pay For Help?
        • Best Personal Loan Companies And Lenders
        • Online Loan Companies To Borrow From Home
      • Tax

        • Best Tax Software
        • Free Tax Software
        • IRS Tax Refund Calendar
        • Common IRS Questions and Errors
        • Federal Tax Brackets
        • Capital Gains Tax Brackets
        • 401k Contribution Limits
        • IRA Contribution Limits
        • HSA Contribution Limits
  • Forum
  • Search
Home » Insurance » Other » Renters » Best Dorm Room Renters Insurance for Students

Best Dorm Room Renters Insurance for Students

Updated: July 6, 2022 By Robert Farrington

Tweet
Share69
Share
Pin101
Email
Print

At The College Investor, we want to help you navigate your finances. To do this, many or all of the products featured here may be from our partners. This doesn’t influence our evaluations or reviews. Our opinions are our own. Any investing information provided on this page is for educational purposes only. The College Investor does not offer investment advisor or brokerage services, nor does it recommend buying or selling particular stocks, securities, or other investments. Learn more here.Advertiser Disclosure

There are thousands of financial products and services out there, and we believe in helping you understand which is best for you, how it works, and will it actually help you achieve your financial goals. We're proud of our content and guidance, and the information we provide is objective, independent, and free.

But we do have to make money to pay our team and keep this website running! Our partners compensate us. TheCollegeInvestor.com has an advertising relationship with some or all of the offers included on this page, which may impact how, where, and in what order products and services may appear. The College Investor does not include all companies or offers available in the marketplace. And our partners can never pay us to guarantee favorable reviews (or even pay for a review of their product to begin with).

For more information and a complete list of our advertising partners, please check out our full Advertising Disclosure. TheCollegeInvestor.com strives to keep its information accurate and up to date. The information in our reviews could be different from what you find when visiting a financial institution, service provider or a specific product's website. All products and services are presented without warranty.

dorm room renters insurance

Even if you're a poor collge student, never think you’re too poor to have dorm room renters insurance.

If you’ve ever been in a situation where your stuff was stolen or destroyed by something you had no control over, then you know how distressing it is. One of the best ways to ease that distress is to get renters insurance.

Contrary to what you might think, renters insurance is an investment more than it is an expense.

Thankfully, it is not wildly expensive and you can get it for as low as $5 per month.

The benefits you gain as a result of having renters insurance outweighs the cost by at least 1,000 times.

Your laptop, cameras, clothing, and even the cost to live at a hotel if your dorm room becomes physically damaged, can all be covered under your renters insurance plan.

So if you’re planning to live in a dorm room in the coming academic year, I highly recommend that you invest in a renters insurance policy to protect you and your personal belongings.

So what is the best dorm room renters insurance? In this post, we’ll discuss that.

Before you go off buying renters insurance all on your own, however, make sure to check with your car insurance company or your parents first.

Table of Contents
Check with Your Current Car Insurance Company First
Ask Your Parents
Ask Your School for Advice
Best Dorm Room Renters Insurance
Allstate Renters Insurance
USAA Renters Insurance
A Few Things to Note About Dorm Room Renters Insurance
Options For Students Off-Campus
Lemonade
Final Thoughts

Check with Your Current Car Insurance Company First

Most car insurance companies offer renters insurance for dorm rooms as well.

Before you look at any other plan, call your car insurance company and ask them about renters insurance. Chances are that you will get it for an even further reduced rate (they will bundle it so the overall cost is lower) or you might even get it for free.

Ask Your Parents

If your parents have home or renters insurance themselves, that insurance might cover your belongings in a dorm room as well.

It is important to note, however, that coverage for items in your dorm room may be limited. It may not even cover anything at all if you live in off-campus housing.

In that case, you will need to get your own.

Ask Your School for Advice

Some universities have relationships with insurance companies where students receive special discounts for dorm room renters insurance.

Talk to someone who works in your residential life and housing office to find out more about this.

Now let’s talk about the best dorm room renters insurance you can invest in starting today.

Best Dorm Room Renters Insurance

Allstate Renters Insurance

Allstate’s renters insurance is best in value for those people looking to bundle this with their car insurance.

Rates start as low as $4 per month and they have an online application that is super easy to use.

Don’t want to use their online application? Allstate has agents in cities across the country who will help you get set up with an insurance plan quickly.

BEst Dorm Room Insurance: AllState
GET A QUOTE

USAA Renters Insurance

If one of you or your parents currently are or have been part of the military, you might be able to get in on USAA’s great renters insurance rates.

The nice thing about USAA’s plan is that it has expanded coverage that most other companies don’t carry.

The coverage under USAA’s insurance includes:

  • Property protection
  • Flood protection (this is usually an extra cost on other companies’ policies)
  • Earthquake coverage
  • Coverage for the replacement costs of items
  • The ability to bring your renters insurance when you move

Of course, there are other renters insurance programs out there for you to check out — but when it comes to the best value for your dorm room, these plans take the cake.

Dorm Room Renters Insurance: USAA
GET A QUOTE

A Few Things to Note About Dorm Room Renters Insurance

It's important to make sure you understand what your renters insurance covers.

  • If you have a roommate for your dorm room, your insurance policy does not cover their stuff. Thus, you can encourage them to get their own so they are protected.
  • Keep a record of your valuables and have proof for them. This could include receipts, photos, and even deeds (for higher-end belongings) of those items. Having these will make it easier if you ever have to make a claim on your renters insurance.
  • If your dorm room has a pest problem, you need to let the university authorities know so that it is solved ASAP. Renters insurance policies don’t cover pest destruction.
  • Accidental damage of your items is also not covered by renters insurance. If you accidentally spilled your coffee on your computer, renters insurance will not cover that.
  • Always apply common sense in your dorm room so you don’t become liable for destroying someone else’s property.

Like I’ve said before, renters insurance is an investment and not an expense. The money you will save if anything ever happens to the stuff in your dorm room is well worth the $5 to $10 per month you’ll pay.

So make sure you don’t skip out on it.

Options For Students Off-Campus

If you're a student but live in an apartment or house off-campus, you still need renters insurance. In fact, some landlords require you to have renters insurance when you sign your lease.

Remember, renters insurance protects your stuff! This can be essential when you rent, but also if you're commuting to and from school.

We recommend Lemonade renter's insurance for students living off-campus. Lemonade does cover students and there is no minimal age, just not those living in campus dorms.

Lemonade

Lemonade is our choice because of how easy it is to get renters insurance through them.

You will enjoy features like:

  • An app that allows you to apply for insurance and make claims
  • Fast and easy response times
  • The ability to input exactly what you own and Lemonade’s AI-based system will craft a personalized insurance plan based on that
  • Renters insurance that starts for as low as $5
  • The ability to donate to a charity of your choice if you have unclaimed money on your insurance plan

Check out Lemonade Renters Insurance here >>

dorm renters insurance: lemonade
GET A QUOTE

Final Thoughts

Renters insurance is probably one of the last things on your mind when you're going to college. But for the small price, it can be a lifesaver financially. If you stuff gets lost or stolen (or damaged in a house fire), having a renters insurance policy is key.

Robert Farrington
Robert Farrington

Robert Farrington is America’s Millennial Money Expert® and America’s Student Loan Debt Expert™, and the founder of The College Investor, a personal finance site dedicated to helping millennials escape student loan debt to start investing and building wealth for the future. You can learn more about him on the About Page, or on his personal site RobertFarrington.com.

He regularly writes about investing, student loan debt, and general personal finance topics geared towards anyone wanting to earn more, get out of debt, and start building wealth for the future.

He has been quoted in major publications including the New York Times, Washington Post, Fox, ABC, NBC, and more. He is also a regular contributor to Forbes.

Best Dorm Room Renters Insurance for Students
Editorial Disclaimer: Opinions expressed here are author’s alone, not those of any bank, credit card issuer, airlines or hotel chain, or other advertiser and have not been reviewed, approved or otherwise endorsed by any of these entities.
Comment Policy: We invite readers to respond with questions or comments. Comments may be held for moderation and are subject to approval. Comments are solely the opinions of their authors'. The responses in the comments below are not provided or commissioned by any advertiser. Responses have not been reviewed, approved or otherwise endorsed by any company. It is not anyone's responsibility to ensure all posts and/or questions are answered.
Subscribe
Connect with
I allow to create an account
When you login first time using a Social Login button, we collect your account public profile information shared by Social Login provider, based on your privacy settings. We also get your email address to automatically create an account for you in our website. Once your account is created, you'll be logged-in to this account.
DisagreeAgree
Notify of

I allow to create an account
When you login first time using a Social Login button, we collect your account public profile information shared by Social Login provider, based on your privacy settings. We also get your email address to automatically create an account for you in our website. Once your account is created, you'll be logged-in to this account.
DisagreeAgree

0 Comments
Inline Feedbacks
View all comments

Primary Sidebar

Robert Farrington will teach you how to get out of student loan debt and how to start investing.

Hi! My Name is

America's Millennial Money Expert

Welcome to The College Investor. We're here to help you escape student loan debt so you can start investing and building wealth for the future

Our expert guides, reviews, and more are designed to help you achieve your financial goals.

Want to learn more? See what's in my wallet.

As Featured In

Social Media

Popular Posts

Side Hustling

53 Side Hustle Ideas To Make Money Fast

Best Side Hustles

20 Best Side Hustles You Can Start Earning With In 2023

Crazy Ways To Make $10,000

10 Crazy Ways To Make $10,000 You’ve Never Heard Of

Make $50,000 Per Year

3 Ways To Make $50,000 Per Year Without Working With Passive Income

Student Loan Scams

Top Student Loan Scams

Net Worth of Millennials

Average Net Worth Of Millennials By Age

Ways To Get Student Loan Forgiveness

Student Loan Forgiveness Programs (The Complete List)

529 Plan By Age

How Much Should You Have In A 529 Plan By Age

Passive Income Ideas

40 Passive Income Ideas You Can Use To Build Wealth In 2023

Make Money From Home

80 Ways To Make Money From Home In 2023

Ultimate Guides

529 Plan Guide

529 Plans: The Ultimate Guide To College Savings Plans

Student Loans and Financial Aid By State

Student Loan And Financial Aid Programs By State

Student Loan Advice

The Definitive Guide To Student Loan Debt

Student Loan Forgiveness By State

The Full List Of Student Loan Forgiveness Programs By State

newretirement

How to Start Saving Now: The College Graduate’s Guide to Saving for Retirement

Latest Research

How much to file taxes

Tax Survey: How Much People Paid To File And The No.1 Tax Software They Used

Inflation survey

Side-Hustles To The Rescue: Survey Shows 86% Stressed About Money & Inflation

students choose to work survey

75% Of Students Would Still Choose To Work Even If They Didn’t Have To

Institutional Merit Grants

Who Gets Institutional Merit Grants At Private Colleges?

Resume Student Loan Payments

Survey: Even With Higher Expenses, Most Student Loan Borrowers Are Ready To Resume Payments

Footer

Who We Are

The College Investor is an independent, advertising-supported financial media publisher, focusing on news, product reviews, and comparisons.

Connect

  • Contact Us
  • Advertise
  • Press & Media

About

  • About
  • Our Team
  • Podcast
  • Editorial Guidelines
  • How We Make Money
  • Archives

Social

Copyright © 2023 · The College Investor · Privacy Policy ·Terms of Service · DO NOT Sell My Personal Information

wpDiscuz