TCU’s residence halls have experienced a handful of incidents involving water damage over the past decade, the most recent of which was the flooding at Molly Reid North (formerly GrandMarc). Yet, some students had not purchased renters insurance at TCU.

Last year, around 20% of TCU students invested in renters insurance through GradGuard, the insurance company partnered with TCU. Since the recent floodings, there has been a notable uptick. According to its website, 6,419 students are currently protected with GradGuard, around 50% of TCU’s total enrollment.

Renters insurance ensures that students can protect their property’s value in case of burglary or natural disaster, and they can avoid financial responsibility if they cause damage to someone else’s property.

“If a student causes a fire and there is water damage, the student is liable because the student caused the damage with renters insurance, which is covered,” said Craig Allen, the executive director for housing and residence life. “I think a lot of times when you bring up insurance, people think of it like car insurance, and that is the real kicker from all of this is that renters insurance is inexpensive. For $150, you can ensure everything in your room for an entire year.”

Many off-campus apartments and houses require students to purchase renters insurance. Allen said it’s also critical in case of natural disasters, like the recent flooding.

“Because you live off campus, your landlord has no obligation to put you up in a hotel, no obligation to do any of that unless they’re negligent,” Allen said.

GradGuard provides insurance for students who live on and off campus at a set rate of $165.40 annually and $14.70 monthly for on-campus living. The price varies for students off campus.