Phoenix, Ariz., Aug 10, 2010. As a new semester approaches, college students are preparing to transition back to campus life. In the process, many will neglect to protect the contents of their home away from home. As a result, AAA would like to provide college students with information on renter’s insurance.

“With laptops, phones, MP3 players and other personal effects, today’s college student can have $10,000 or more worth of property in their dorm or apartment,” said Brad Oltmans, vice president of insurance for AAA Arizona. “A renter’s policy is a simple and affordable way to safeguard your property against theft or loss.”

To help students understand the benefits of this coverage, AAA would like to address frequently asked questions about renter’s insurance:

• What is renter’s insurance?

A renter’s policy protects renters’ property, and it may also provide the renter liability coverage. The property owner will have insurance that covers the structure itself.

• Which students need a renter’s policy?
  Students who file their own taxes and/or live away from home for more than the school year should consider a renter’s policy. Some housing may require tenants to have proof of a renter’s policy before allowing the tenant to move in.
  
  
• Which students do not need a renter’s policy?

Students who are dependents of their parents and consider their parents’ address their primary residence are likely covered under their parents’ homeowner’s policy.

Students covered under their parents’ policy should still consider a renter’s policy. In the event that a claim needs to be filed, you can avoid placing a claim on your parents’ policy, therefore saving them from potentially higher premium rates. Also, a homeowner’s policy could have higher deductibles, meaning you would get a smaller claim payment for your stolen or damaged property.

• How much does renter’s policy cost?
  Policies are inexpensive, starting from the low $100 range for an annual policy.
  

“Renter’s policies vary, so it is important to talk to your insurance agent to confirm what your policy covers, and if you find holes in your plan, ask how get the right coverage,” Oltmans said.

For more information on renter’s insurance, visit the AAA Insurance page.

AAA Arizona, the Arizona affiliate of AAA, provides automotive, insurance and auto travel services to more than 800,000 Arizona members.  Annually, AAA’s Emergency Road Service responds to more than 450,000 calls for help on the streets and highways of the state as well as providing insurance, travel, and financial services to AAA members and motorists.  Since its founding in 1927, AAA Arizona has been a leading advocate for the safety and security of all travelers.  In 2008, AAA was ranked the No. 1 “socially responsible” brand by Landor’s BrandAsset® Valuator.