Why Students Away Need Their Own Tenant Insurance

For Canadian college and university students living away from home, having their own tenant insurance policy can be a smart move, even if they might already have some coverage under their parents’ home insurance.

While many home insurance policies extend protection to students temporarily living elsewhere, there are often limits and exclusions that could leave significant gaps. For example, the coverage limit for personal belongings away from the primary residence may be much lower, and certain liability situations or types of damage might not be fully included.

A dedicated tenant insurance policy ensures students have clear, comprehensive coverage tailored to their unique living arrangements.

Tenant insurance is also surprisingly affordable, often costing less than a few coffees each month. That small investment protects personal belongings from risks like theft, fire, and water damage, and provides liability coverage in case the student accidentally damages their rental or someone is injured while visiting. This not only helps safeguard finances but also brings peace of mind during a busy and often stressful time in life.

Having their own tenant insurance policy encourages away-from-home students to be more responsible tenants by helping them understand safety, accountability, and the real-world consequences of being careless in their new living environment.

There’s another long-term benefit: building a record of insurance. By maintaining a tenant policy with no claims, students can establish a positive insurance history. This can make it easier and possibly more affordable to secure coverage later when renting a first apartment or buying a home after graduation. In short, tenant insurance isn’t just about protecting belongings today; it’s an investment in a student’s financial future and independence.

Begin now to protect your away student’s belongings, build their insurance history, create accountability and gain peace of mind while living away from home. Click here to get a quick, no-obligation quote for tenant insurance from HUB SmartCoverage today.