If a fire, robbery or damaging storm results in loss of your personal belongings at your apartment or in your dorm, how will you replace your valuables?

Renter’s insurance just might be the answer.

Renter’s insurance will cover the cost of your personal belongings if they are damaged in a fire or storm or if a break-in happens, said Alfa Insurance Agent Terry Oakley.

“A lot of people don’t realize that the building owner’s insurance typically doesn’t cover the replacement of the contents if a fire or theft occurs,” Oakley said. “Renter’s insurance also covers liability for personal injury if someone gets hurt in your apartment.”

For $12.50 per month, totaling $150 per year, students can receive $25,000 in coverage from Oakley’s Alfa Insurance, Oakley said.

“The cost can vary depending on whether you have auto insurance with us or how good your credit is,” he said. “It all depends on each person’s situation, but getting all your insurance from the same place is your best bet because you’ll get a discount.”

Junior Joel Scott has renter’s insurance and pays about $14 per month for $25,000 in coverage, he said.

“($14 per month) is dirt cheap for the coverage you get — it’s worth every penny.” Scott said. “And it’s not just about what you believe your stuff is worth, but what it would cost to replace it.”

Megan Hamlin from State Farm thinks most people don’t realize how much their belongings are actually worth, she said.

“Students should remember that when you are deciding how much coverage you need, you have to look at what you have versus what is would cost to get a new one,” Hamlin said. “(For example), if you have a 15-year-old shirt, it may not be worth much, but buying a new one will cost more than that.”

The average cost of $25,000 coverage in renter’s insurance for a student in Florence would be about $20 to $25 per month if purchased at State Farm, she said.

Nationwide Insurance also offers renter’s insurance coverage at a higher rate than some of the other companies.

The average cost of renter’s insurance for a UNA student is about $30 per month for $25,000 in coverage, said Angie Mashburn of Nationwide Insurance.

“The rate varies depending on credit and if a person has any other coverage from us, but the average is about $30,” Mashburn said. “That will get you $25,000 worth of coverage.”

Junior Taylor Patton, who lives on campus, thinks renter’s insurance is affordable, she said.

“I think it’s pretty affordable, even for college students,” Patton said. “It’s good for just in case someone breaks into the dorms or if something happens to your stuff.”