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An OSU Student’s Guide to Renter’s Insurance

By Bella

Are you a student uncertain about renter’s insurance? Trust us, you’re not alone.

Renting a student apartment can be a confusing process, and renters insurance is one of those things that many students don’t fully understand. You may be thinking, What exactly is it? Do I need it? What does it cover?

At Rambler, we want your leasing experience to be as smooth and stress-free as possible. That’s why we’ve created this complete guide to renters insurance to answer all of your questions.

In this article, we answer frequently asked questions about renter’s insurance, including: 

A Student’s Guide to Renter’s Insurance in Columbus 

two girls at ethyl and tank near OSU

What is renter’s insurance? How does it work?

Simply put, renters insurance is a type of insurance that protects your personal belongings and liability when you rent an apartment or dorm room. It can cover things such as theft, fire, vandalism, water damage, or other unexpected circumstances. 

When choosing a renter’s insurance policy, it’s important to know that there are different types of coverage available.

Some policies cover personal property (your belongings), while others cover liability (legal costs if you’re responsible for an injury that happens in your home). And some policies cover both.

Do you need renter’s insurance? 

It is always a good idea to have renters insurance. 

While renter’s insurance is not required by law in Ohio, many landlords may require it for you to live in their building. Many landlords will offer their insurance policy, sometimes referred to as a liability waiver program, but be aware that it is not the same as having your own renter’s insurance.

Read Next: Student Apartments vs. Traditional Apartments: Which is Right For Me?

It is a common misconception that the landlord’s policy will suffice when it comes to covering personal property damages, but this is not always the case. The landlord’s policy typically only covers damages to the building itself. You will need renters insurance to protect your personal belongings and to protect yourself from liability.

For example, if a fire breaks out in your apartment and damages your furniture, renters insurance would cover the cost of replacing your furniture. However, if you did not have renter’s insurance, the replacement of your personal property would be paid for out-of-pocket. 

three OSU students sitting on camous near the Ohio sign

How much does renter’s insurance cost? 

The average cost of renter’s insurance in Ohio is around $12 per month. 

However, the price varies depending on the complex you live in, the insurance company you use, and the amount of coverage included within the policy you select. Some policies are as low as $5 dollars per month, and others might be over $20 per month. It just depends on what plan works best for you.   

Read Next: 9 Additional Costs to Consider When Looking for a Student Apartments in Columbus, Ohio

How do you get renter’s insurance?

Here are some ways that students living in off-campus apartments can get renter’s insurance: 

  1. Landlord’s policy
  2. Parents’ homeowner’s policy
  3. Your policy

First, your landlord might offer their insurance policy which you can opt into, or it might even be added automatically. As stated previously, the policy offered by the landlord will often only cover damages to the property and not your personal belongings. For this reason, it’s important to read carefully over the policy and ask questions about what is covered before making a decision. 

Rambler requires that you have renter’s insurance, and we offer a policy that meets our minimum of $100,000 in liability coverage. You’ll find that this is a standard amount for apartments around Athens.

Next, your parents’ homeowners policy may cover your personal belongings while you’re living in a student apartment. This coverage is typically limited to a certain percentage of the total home coverage limit, so you and your parents should check with both the insurance company and the landlord’s requirements to see if this is an option for you during your time at Ohio State University. Make sure to clarify any specific terms and conditions that may apply to ensure your belongings are adequately protected.

Lastly, If you’re not satisfied with the coverage or price of the renters’ insurance offered by your landlord or parents’ policy, you can purchase your policy. Many students find that this is the best option, as they can customize the coverage to fit their individual needs and budgets. There are many affordable renters insurance policies available, so you’re sure to find one that’s right for you.

For help finding your policy, there are many online resources available to get you started. 

boy smiling at ethyl and tank near OSU

Now that you understand the importance of renter’s insurance, delve deeper into other crucial aspects of renting as a student. Check out What is a Guarantor? to learn about the role of guarantors in the leasing process.

We hope this article gives you a better understanding of what renter’s insurance is and why it is so important to have as a student living off-campus. If you have any questions about renter’s insurance at Rambler, contact our leasing staff who are more than happy to help. 


Bella is the Leasing & Marketing Team Leader at Rambler Columbus. She graduated from Northern Kentucky University. She is a lover of concerts and iced matcha lattes from Daydreamer!

July 08, 2024


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