Students depending on their parents’ homeowner’s insurance to cover their personal property while away at school may be in for a big disappointment, especially if they live off-campus.  Rich Job, a sale representative for Bank of the West, said renters' insurance is important for both the protection of personal property and student liability coverage. Many plans offer pay-by-month options, which are relatively affordable. The main reason for students not purchasing these policies is the belief that a landlord's insurance will cover them, when in fact it solely covers the landlord's property. According to the National Association of Insurance Commissioners, most university dormitories are covered by university insurance, but this may only be liability coverage. They recommend reading the fine print on parents’ homeowner’s insurance for students still in dorms, while off-campus students are advised to purchase their own coverage to protect their personal property.

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