Regarding renters insurance, maybe you wouldn’t file a claim for one item, however, it would help you if there was a natural disaster like fire or tornado. I wouldn’t go without it, and in fact, some rentals require it.
My kid won’t have over $5000-10000 worth of furnishings and electronics, and probably toward the lower end. I wouldn’t make a claim for that amount. However, if renters comes with liability coverage like homeowners, I’ll probably recommend it to her based on that aspect alone.
car insurance is on the car, not the person. The premiums are based on the number of people in the household and sometimes who the primary driver of that car is. When she is gone from your household, she can be taken off the policy. That’s usually pretty easy to prove if she’s got her own car and her own policy.
My kid lives in an apartment that requires renters insurance including liability. We have to produce the policy cover page annually.
You might not think your kid has $5000 worth of “stuff”…but if you have to buy all new furniture, clothing, kitchen items, computer, books, everything…because of something like a fire, or other big damage issue…you might be surprised.
I wouldn’t make a claim for only $5k and if the replacement cost for new items is $5k, the actual cash value might be $2500, minus a $500 deductible, and you would be lucky to get $2k.
Yes, some apartment complexes do require renter’s insurance and if you don’t sign up for your own, they put you on the apartment complex’s plan…which usually isn’t that good.
My D just signed a lease for her first post-college apartment in the downtown of a large but not pricey (not a Boston, NY, Seattle, SF) city. She looked a lot of places over four separate days and I went with her to some.
She’s required to carry renters insurance.
She didn’t need a co-signer, just an offer letter, and the deposit at the place she chose had two options, a larger (still less than a month rent) refundable deposit or a much smaller nonrefundable one.
Ask about application fees, parking, utilities, (not just water and gas and electric but trash, pest control, and anything else), how packages are handled, what are all fees. Read reviews online.
Make sure elevators actually work! Also that there are elevators if you’re looking at a third floor apartment. D ran into both these scenarios in her search.
Look at the direction the apartment faces and cost of utilities. Ask for a map of the facility. Usually in the big places you see a model, or a similar apartment, not the actual one you’re leasing, at least that was her experience.
We got a very different impression of one place we visited twice, once on a Friday afternoon and again on a Saturday afternoon. Much different vibe on a Saturday. When you see people around and can get a sense of the people who live there. Ask the leasing agent what the age range of residents is like and what there is to do in the area.
Ask the future roommate what one or two things are very important to her, or try to gauge this by looking at apartments online. In shopping with my daughter it became clear that the one thing she cared a lot about was the kitchen—she wanted lots of space there. My other D really wanted a range hood vented to the outside. Odd request, but her experience on campus was a studio apartment with no venting to the outside and she hated it. . You’d want to know before choosing a place if the roommate loves to cook and wants counter space, or only takes baths no showers, or has to have a balcony, or can’t stand to be above ground level, or won’t live in a high rise, or really is hoping for a pool or to be near a park.
The place my D ultimately chose had a nice 360 tour online of the apartment she chose. Very helpful if someone can’t be there to visit the place.
Also when we toured places on a Saturday we had to wait at least 20-30 min past the Appointment time at every place we visited. Annoying. I don’t think it was as bad on the weekdays she searched.
Thanks parent!
I’ve compiled a list from these suggestions that i think are relevant to her. It may be helpful to others (or I may have missed things too).
Apartment things to consider
[ol]
[]Entry/security cameras? Keys? Keycard?
[]Take photos at move-in esp of any damage
[]How are packages delivered/accepted
[]What is (not) included: cable, internet (watch out), heat (what kind), electric, water, trash – any other charges beyond rent?
[]If not included, direct billed by utility or by building? Past bills/estimate? Individually metered power/gas or shared?
[]Parking (2 spots) or street?
[]Deposit, first/last? Policy for returning
[]OK to sublease in case one roommate moves?
[]Renter’s insurance
[]Simple Bills (can pay bills that you split)
[]Fee for lost key/card? What to do if locked out
[]Laundry facilities
[]Avoid ground-level units?
[]How rent is paid (online, check, CC, etc)
[]Garbage disposal/range hood?
[]Screens on windows?
[]Lock on bedroom doors?
[]Distance to emergency exit / stairwell
[li]Age range of residents[/li][/ol]