The elevator could take you to the area of the fire or become inoperable while you are in it. Cover your face with a cloth. If your clothing catches fire, drop to the floor and roll. Never stop to gather possessions when leaving a burning building and do not return once you are out. Normally a landlord's insurance does not cover your personal possessions in the event of theft or fire.
Renters insurance is recommended.
This should be verified with the company. National Student Services, Inc. offers a special low-cost personal property insurance for college students. For an application, write to the company at P.O. Box 2137, Stillwater, OK 74076. Any general insurance agent can give you a quotation on renters insurance. Do comparison shopping.