Didn't think of that, did you? If you're moving out of your parents' home to your dorm or even to off-campus housing, you'll need insurance for your valuables.

A recent survey by TD Insurance found that 47 per cent of Canadians under 35 do not have insurance for their valuables. "I've heard a number of stories about renters who decide to forgo renter's insurance simply because they don't think they are at risk, so are willing to take their chances," says Dave Minor, Vice President, TD Insurance. "But accidents can happen to anyone, anytime, anywhere, and the financial impact can be significant."

Remember, a basic laptop can start at $400 but do you want to pay that twice if it gets stolen? Home insurance can cover the cost of replacing your items should anything happen to them.