Georgia’s Insurance and Safety Fire Commissioner John F. King is urging college students moving into rental properties this fall to consider obtaining renters insurance.
King believes renters insurance is “crucial to protect your property in the event of theft, fire or other unexpected disaster.” While many landlords reportedly have insurance coverage that protects the property itself, those policies rarely cover a tenant's belongings.
In some cases, landlords require tenants to have renters insurance in order to rent the property, media contact Weston Burleson said.
“While going off to college is exciting, I highly recommend that college students protect themselves and their belongings by purchasing renters insurance as they move closer to campus this fall,” Commissioner King said. “Cell phones, computers, televisions, furniture, and even clothing are covered by most policies in the event of a theft or disaster, which can save future time, money and heartache.”
The average cost of renters insurance in the Peach State is $212 per year, which comes out to just over $17 per month, according to the Insurance Information Institute.
Factors that impact that rate include the rental property location, a renter’s credit score, the rental company, the items being insured and any other elective coverages chosen in the insurance package.
Those interested in getting more information regarding renters insurance can do so by calling the Georgia Department of Insurance’s Consumer Services Division at (800) 656-2298.
