Renters Insurance for Student Rentals and Apartments
October 28th, 2008 by AllStudentRentals.com
Do you have renters insurance? If you don’t you might want to think about getting it. It’s cost effective and can provide added security for student housing and off-campus housing. Here are a few myths about renters insurance:
It’s cool — my landlord’s covered. In most cases, a landlord’s insurance covers only structural damage to the building itself—and many landlord policies don’t even go that far if the damage is caused by a tenant. If you leave the tub running and it turns your floor into cardboard and dribbles downstairs, damaging your neighbor’s couch, you may be liable. If your building went up in flames, your landlord’s coverage would include repairs, but only to the building, not to the possessions of tenants.
It’s out of my price range. Is $10 to $20 per month too much? Renters insurance is really inexpensive, here are some providers, call them and get a quote or get a quote online:
www.WellsFargo.com/insurance
www.LibertyMutual.com
www.USAA.com
www.aisinsurance.com
www.AssurantRenters.com
www.esurance.com
www.Nationwide.com
www.GEICO.com
I’m in a great building, and I’m not worried about security. Renter’s insurance extends beyond on-premise theft and hazards. If your suitcase is stolen while you’re on vacation, you’ll likely be covered. Same with property stolen from your car. If you’re prone to barroom brawls—well, you might need more help than renter’s insurance, but you’ll probably be covered if you hurt someone. Speaking of injuries, you’ll also likely be protected if someone slips and sprains their ankle at your annual dance-a-thon; you may even receive compensation for legal defense costs in the case of a lawsuit.
My stuff isn’t really worth much. You might be surprised at how quickly all those books, CDs, and kitchen appliances add up. According to StateFarm.com, most people own more than $20,000 worth of property.
Coverage for your personal property may include losses caused by:
- Fire or lightning
- Weight of ice, snow or sleet
- Explosion
- Aircraft and vehicles
- Smoke
- Sudden and accidental tearing or bulging of heating or cooling systems
- Windstorm or hail
- Theft
- Riot or civil commotion
- Falling objects
- Vandalism or malicious mischief
- Sudden and accidental water discharge from plumbing or appliances
- Freezing of plumbing systems
College students are one of the biggest groups of people that have renters insurance.This is because college students usually do not own their homes and are not usually able to do so. Therefore, they are able to be renters, and this means that they are able to get renters insurance.
There are several ways that college students can get renters insurance. One of the things that they can do is make sure that they are buying renters insurance term by term. It is important to remember that most college students live their lives term by term. Each January and each September marks a new chapter in the life of a college student. Therefore, it only makes sense that the college students are able to get their renters insurance term by term.
Term by term renters insurance is something that you can do for college students. This allows them to be able to readjust their renters insurance with each term of school. The reason that this is a good idea is that each term can be different for a college student. Sometimes students go to different towns or different schools for some of their schooling. Therefore, one semester they might be living in a place that is much more prone to robbery than the semester before, and this means that they might want to readjust their renters insurance to cover them a little bit better. It is important that they are able to do this because they can make sure that each semester they have the exact coverage that they need for their belongings.
When a student is doing a term by term renters insurance program, it is important that they are able to look at the different parts of the semester and what their needs will be. The term by term renters insurance works best with a student who is able to take responsibility for doing this each semester, because it means that they will have to do paper work and renew their renters insurance each time they start a new term at school. This is something that is important to remember. If a student forges to renew their renters insurance, they might not be eligible to cash it in if something happens to their belongings. Therefore, it is important that if a student decides to do term by term renters insurance they are responsible enough to do this each semester.
When it comes right down to it, it is important that students are able to get term by term insurance as well as they can and are able to be responsible. You want to be sure that you are able to take care of this and that you will use it in the same way as the regular renters insurance. You want to be sure that you are keeping track of the items that you have in each of your rental properties. Be sure that you keep very close track of what you are doing with your belongings and what you have in each home.
Source: Compuquotes
Source: MSN Real Estate
- Posted in Miscellaneous
