Fire — students never think it can happen to them, and renter’s insurance is probably the last thing on their minds. However, when faced with a cloud of smoke and a horde of firefighters, renter’s insurance could be the first security students wished they had acquired. The 2006 – 2007 Housing Agreement, signed by students living on campus, encourages students to “carry personal property insurance since the University does not provide renter’s insurance to students.”

Jim Pappenhagen, associate director of University Housing and Greek Life, said this statement was included in the agreement to provide students information.

Many authorities recommend students who are not covered under their parents’ policies to consider renter’s insurance.

University Fire Marshall Bill Stevenson said he advises students to talk to local insurance companies.

“It’s a really personal decision,” he said. “We certainly advise the students to at least investigate and explore.”

Susan Grant, University Housing director, said living on campus is the same as living anywhere else.

“You have to cover your own personal belongings,” she said.

According to Jim Semple, director of insurance and risk management, a state stature prevents universities from offering renter’s insurance.

“The University can only acquire property insurance for state-owned assets that belong to the taxpayers of North Carolina,” he said.

Semple said renter’s insurance has two advantages, protection of property assets and liability coverage for theft.

“For the best interest of students we recommend — whether they live on campus or off campus — they look into acquiring some sort of insurance,” he said.

Semple also mentioned the importance of flood insurance. He said students should find out if they live in an area, such as a “lower floor or in a basement area,” that is prone to flooding.

According to Jim Sampson, an Allstate insurance agent, most students are unaware of the value of their personal property.

“They have a lot more to lose than most of them think they do,” he said.

Sampson said most students are already on budgets, and without renter’s insurance it would be difficult for them to replace their losses.

Sampson said the price of renter’s insurance depends on the value of the possessions.

“For someone who has $25,000 worth of contents it’s not going to cost the same as someone who has $50,000 worth of contents,” he said.

Students who live in residence halls may have to solely depend on their parents’ homeowner’s policies when dealing with some insurance companies.

Sampson said because some insurance companies don’t cover residence halls, it’s important students clarify that they live in a residence hall when signing up for renter’s insurance.

“It would be important to make that distinction to an insurance company and make sure they’re OK with that,” he said.

However, according to Sampson, most students are covered under their parents’ homeowner’s policy.

“[Most students] have no need to have their own renter’s policy because their parents’ homeowner’s policy extends to cover them while they’re away at school,” he said.