In these days of litigation and high insurance costs it is as if you can’t do anything or go anywhere unless you are insured. The monthly cost of the insurance premium is just another expense, something else to pay for on top of the courses, books, lab time, rent, transportation, clothing, laundry, food, utilities, you may just think you’ll take your chances and not get the insurance. Before you make that decision final, think about your situation for the next 8-10 months. You are not part of a family, you don’t know your house-mates, you don’t know what others may or may not do, you don’t even know what you may or may not do. Or the subsequent costs of those actions. The last thing you want to be concerned about is your housemate or landlord chasing after you.
When you are away from home, at college or university, where you live is then your home, even if it is just temporary. Hospitality and accommodation owners/managers are insuring your stay from day one, so it only makes sense to insure you own ‘stuff’.
To sell insurance policies some agents focus on fear, (I know from experience), one question I ALWAYS ASK is “under what circumstances would my claim NOT be honoured?” If I don’t get an acceptable answer I move on to another Insurer. Student housing is a business and as such the landlord or manager will make a claim for the costs of repairs. Either insurance pays the bill or you will.
You, personally may not have that much ‘stuff’ to insure, so why should you get insurance? You will be living in a house with other students and they may have ‘stuff’ that is more valuable than yours, IF somehow you are the cause of any damage to their belongings, they make a claim against you to replace their property and claim other damages. OR, your landlord could claim that you have caused damage to their property (toilet flooded – plumber needed to repair the bathroom, broken window – emergency repairs followed by a new window + labour, unrepairable flooring or any other possible damage replace total flooring, or new carpeting,) they would have to supply some kind of proof, but it could cause a lot of frustration, tension and frayed nerves. The reason you are living in the off-campus housing is to get an education that will serve you well in the working world, you’ll need all your extra free time to relax, study, research, shopping etc, not avoiding the landlord or working to pay off the extra repair expenses.
The IT global village, is a perfect place to find your best deal for insurance, ask if you can add your needs to your parents insurance policy for the duration that you are at university. Pay your premiums by the month instead of by the year.