Every August, thousands of Purdue students move into dorms and apartments around West Lafayette. Whether you are a parent, a student or a landlord, a few minutes spent on insurance now can prevent an expensive surprise later. Here is how renters insurance in West Lafayette and the related coverages usually work.
Students living in the dorms
Many homeowners policies extend some coverage to a child’s belongings while they live in a dorm, but it is often limited to a percentage of your personal property coverage, and your deductible still applies. Check your policy before move-in, especially if your student is bringing a laptop, bike or gaming system.
Students in off-campus apartments
Once a student signs a lease off campus, a parent’s homeowners policy may no longer cover them. The landlord’s insurance covers the building, not the tenant’s belongings or liability. A renters policy covers personal property, liability if a guest is hurt or a neighbor’s unit is damaged, and extra living costs if the apartment cannot be lived in. Many leases near campus now require it.
Landlords renting to students
If you own a rental house in West Lafayette, a homeowners policy is not the right fit. A landlord insurance policy covers the dwelling, your liability and lost rent if a covered loss makes the home unlivable. It is also worth requiring tenants to carry their own renters insurance.
Cars at school
If your student takes a car to campus, tell your agent where it will be kept. Rates can change based on where a car is garaged, and good student discounts may apply. If the car stays home, ask about a distant student discount.
Get it set up before move-in
Lafayette Insurance helps Purdue families and local landlords every year. We can quote renters insurance, review your homeowners coverage and compare several companies for you. Call 765-474-2300 or contact us.