Why UWEC Students Should Get Renters Insurance.

Renters insurance is often overlooked by UWEC students, but it’s an essential safeguard for living off-campus. As a student at the University of Wisconsin-Eau Claire (UW-EC), moving out of the dorms and into an apartment or house rental is a significant step toward independence. However, with this new independence comes new responsibilities, including protecting yourself and your belongings. This article explains why UWEC students should get renters insurance, covering personal property and house rental liability, and why it’s a smart investment for both students and their parents.

What is Renters Insurance?

Renters insurance is a policy that provides coverage for personal belongings, liability protection, and additional living expenses if a rented property becomes uninhabitable. Renters insurance provides protection to the UWEC student’s personal property and financial protection against liabilities.

Why is Renters Insurance Important to a UWEC Student?

Personal Property Loss and Legal Muscle:

As an off-campus UWEC student, you may not have significant amounts of money invested into personal property. If you lose everything all at once from a disaster such as fire, theft, tornado, or such, and you are a poor broke student, having coverage to replace lost possessions can be paramount. The larger part of this type of insurance policy is the protection from liabilities. Also, having the legal muscle of an insurance company on your side during litigation is very helpful. Insurance companies are very good at defending themselves against loss, and therefore you as well.

Injury Loss Liability:

Imagine a classmate visits your apartment and falls causing injury. You could be personally liable for the medical bills. Liability coverage typically includes legal costs and medical expenses if someone is injured at your apartment. This protects you from crippling financial obligations.

Property Loss Liability:

Let’s say your drunk buddy accidentally causes damage to your apartment. He passes out while trying to bake three frozen pizzas. The oven catches fire. The fire propagates to the building, scorches the kitchen, smoke damages the entire interior, and causes the Eau Claire Fire and Rescue Department to intervene. Earlier that night, you were playing beer pong and ran short on beer, so you switched to booze pong. Since the booze was Bacardi 151 [https://en.wikipedia.org/wiki/Bacardi_151] when everyone playing booze pong assumed it was umbrella drink rum [https://www.malibudrinks.com/en-us/products/malibu-original/ ], you were found negligent. This gives you that first gray hair. Thank goodness your renter’s insurance carrier took over, saved the day, your financial future, and stopped that gray hair from spreading to premature baldness.

Off-Premises Coverage:

One of the benefits of renters insurance is that it often extends to personal belongings even when they are not in your apartment. If your laptop is jacked from your parked car, your renters insurance policy may still cover the loss

What is the Cost of Renters Insurance for a UWEC Apartment Rental?

One of the concerns for students when renting your first off-campus UWEC apartment or house is the cost of renters insurance. The UWEC student often forgoes getting renters insurance to save money. However, the good news is that it’s relatively inexpensive, especially considering the coverage it provides.

The average policy in Wisconsin is a little over $13 per month

Some insurance companies allow you to share the cost and coverage with roommates [https://www.progressive.com/answers/does-renters-insurance-cover-roommates/]. The cost can vary based on several factors, including the value of your personal belongings, the level of liability coverage, any additional coverage options you choose, and deductibles. Since UWEC students live in an area with low crime rates UWEC students get very affordable renters insurance rates.

What else to Consider With Your UWEC Apartment Renters Insurance?

College life is unpredictable, and accidents can happen when you least expect them. Renters insurance provides a safety net for these unexpected events, ensuring that you’re not left financially vulnerable.

Natural Disasters:

Obviously, Eau Claire is not prone to hurricanes & earthquakes, but it’s still at risk for severe natural disasters. Renters insurance can help cover the costs to get back on your feet after a severe natural disaster.

Theft and Crime:

UW-Eau Claire, can experience theft and crime, especially when getting further off-campus. Afterall, the UW-Eau Claire Police office is located right on the UWEC campus at Crest Wellness Center, 630 Hilltop Circle, Eau Claire, WI 54701 [https://www.uwec.edu/offices-services/uw-eau-claire-police].

Additional Living Expenses Coverage:

In the unfortunate event that your rented apartment becomes uninhabitable due to a covered peril, renters insurance typically provides coverage for additional living expenses. This coverage can help pay for temporary housing, food, and other related expenses while your apartment is repaired. If a fire, for instance, makes your apartment uninhabitable, this coverage could pay for a hotel.

Student Peace of Mind:

As a UWEC college student who may not have the financial resources to pay for unexpected off-campus housing costs out of pocket. You have a safe place to stay even during unforeseen circumstances. Renters insurance gives you peace of mind, knowing that if your apartment is robbed, you won’t have to bear the full cost of replacing stolen items.

Legal Defense:

If you’re sued as a result of an injury that occurred in your apartment, renters insurance typically covers the cost of your legal defense, up to the policy’s limit. This protection is crucial for college students, who may not have the funds to cover legal fees out of pocket .

Parental Peace of Mind:

Parents knowing that your UWEC Student is protected with renters insurance can provide peace of mind. While students might be focused on the day-to-day aspects of trucking over to classes, parents often think about the bigger picture, including potential risks and financial security. Renters insurance ensures that unexpected costs related to accidents, theft, or damages don’t derail your student’s UWEC experience. It also protects you from having to step in financially to cover these unexpected expenses. Encouraging your student to get renters insurance also teaches them an important lesson about responsibility and the importance of protecting their assets. It’s a step toward financial independence and understanding the value of insurance .

Conclusion

Renters insurance is a small investment that can provide significant protection for UWEC students living off-campus. From covering the cost of stolen belongings to providing liability coverage in case of accidents, renters insurance offers a safety net that ensures students can focus on their studies without worrying about unexpected financial setbacks. For both students and parents, this type of insurance provides peace of mind and a critical layer of protection during the college years.

By understanding the benefits and importance of renters insurance, students can make informed decisions about protecting themselves and their belongings, making it a must-have for anyone living off-campus while at UWEC.

Disclaimer

Hey there! Thanks for reading our stuff. We want you to know a few important things:

We're General Property Management LLC, right here in good old Eau Claire, WI. You can make an appointment to visit us. Our office is located at 703 5th Avenue #1, Eau Claire, WI 54703 or send written correspondence to General Property Management, LLC, P.O. Box 283, Eau Claire, WI 54702.
If you need to reach us, our email is contact@ec4rent.com and our phone number is 715-832-1200.
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