Should I purchase renter's insurance?

The University DOES NOT accept liability for the theft or loss of money, property, valuables, damages to any resident's property or personal injury sustained in the residence hall. It is recommended that students either carry his or her own personal property insurance or determine if property loss is covered by their parents' homeowner's policy. In addition, students are urged to put proper identification on his or her valuables, and keep a list of them with descriptive information, model numbers, and serial numbers. Make a copy of the list and keep one at home.