Starting college or moving into your first apartment is exciting, but it also comes with new responsibilities you might not have considered. At Wilcoxon Insurance Inc. in Sioux Falls, SD, we help students and first-time renters understand why protecting their belongings is just as important as finding the perfect place to live.
Your Stuff Is Worth More Than You Think
Take a moment to add up the value of everything in your dorm room or apartment. Your laptop, smartphone, gaming console, clothes, textbooks, and furniture can easily total $15,000 or more. If a fire, a theft, or water damage destroyed everything, replacing these items out of pocket would be financially devastating.
Your Landlord’s Insurance Won’t Help You
Many first-time renters assume their landlord’s insurance will cover their personal belongings if something goes wrong. This is one of the biggest misconceptions about renting. Your landlord’s policy only covers the building structure and their liability. Your personal property gets zero protection under their coverage.
Liability Protection Matters Too
Renters insurance doesn’t just protect your stuff. It also provides liability coverage if someone gets injured in your apartment or you accidentally damage someone else’s property. If your friend slips and falls in your kitchen, or you accidentally flood the apartment below yours, liability coverage helps protect you from potentially expensive lawsuits.
Affordable Peace of Mind
The good news? Renters insurance typically costs between $15 and $30 per month. That’s less than most people spend on coffee each week. For students and first-time renters in Sioux Falls, SD, Wilcoxon Insurance Inc. can help you find affordable coverage that protects your belongings and your financial future.
