Why would I need renter’s insurance in college?

Most of us college students live on a budget. We plan for our known expenses such as groceries, utilities, rent, textbooks, entertainment, and more. While it is easy for us to plan for those known expenses, we often tend to forget about unexpected expenses. Unexpected expenses are any potential cost a student could encounter outside of their known expenses. Circumstances such as fire, flooding, and theft are a few examples of how someone could lose their personal property. We don’t expect these situations to occur, but they are more common than most people think.