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The Terms and Conditions of the Housing Contract clearly state that the university does not assume responsibility for any resident's, guest's, or other person's loss of money or valuables, or the loss of or damage to property, sustained on or about the Housing and Campus Dining Services premises. It always makes sense to protect personal belongings in the instance of fire, theft or other unexpected events that may occur.
The university recommends that the resident contact his/ her local insurance carrier concerning the availability of protection against such losses.
The following are alternatives you may pursue:
- Students' belongings may be covered by their parents' homeowners insurance under a "coverage away from premises" clause. You will need to check with the insurance agent to see if 1) the student is still considered a member of the household, and 2) the coverage is adequate based on the value of the belongings.
- The student may contact any number of local insurance agents to obtain appropriate renters or homeowners insurance for his or her needs.
Here are a few facts about renters insurance:
- Policies are not very expensive: Depending on the coverage and deductible you may pay approximately $100 for a full year of coverage
- If you have auto insurance, you may receive a multi-policy discount by using that company to cover your personal belongings with a renter's insurance policy.
- When shopping for a policy that is right for you, consider the total replacement value of items at the university, as well as the deductible you choose (usually $250 or $500 per instance)
- Jewelry and other property that is of very high value may be additional cost to insure (depending on the value of the item).
The best advice is to use a phone directory (yellow pages) to call and compare several companies to see which insurance company will be best for your coverage needs.
*Please note that OSU does not endorse a specific insurance company
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