You may think that I do not need renters insurance because my roommate or significant other has a policy. That is a misconception, if you are not listed on the renters or homeowners policy you have no coverage under their policy.
If you are a family with a college student you should also think about weather that student needs coverage while they are away at college. Some insurance companies will extend coverage from their parent’s homeowner’s policy, but is it enough? It’s a good idea to contact your insurance agent to make sure that your family is adequately covered.
The price of a renter’s insurance policy is usually less than $15 a month, depending on the amount of coverage you need and where you live. If you purchase the renter’s insurance policy with the company that has your auto insurance you will usually see a 7-20% discount on your auto insurance.