You’re moving out! Seems like it was yesterday that you were just a freshman in high school thinking college was ages away. If you’re renting out an apartment in your new college town, protect your belongings! Renter’s insurance is cheap, yes, college student cheap, so make sure you’re covered! AmeriAgency specializes in insurance for college students.
If you rent a house or apartment and think that your landlord is financially responsible when there is a fire, theft or other catastrophe—think again.
Save Up to 27% in Insurance For College Students With AmeriAgency. With More Than 20 Years of Experience, We’re Sure We Can Help!
Your landlord may have insurance to protect the building you are living in. But your landlord’s policy won’t replace your personal possessions or pay for your living expenses while the building is being repaired.
The only way to protect yourself financially against disasters is to buy a renters insurance policy.
What does it really cover?
Renters insurance, sometimes referred to as tenants insurance, includes three basic types of protection:
- Personal Possessions
- Liability
- Additional Living Expenses
Many people choose to forego renter’s insurance since their landlord already has insurance for the building and they assume they will be protected. However, many landlords just have policies that protect the building and not personal possessions.
When choosing a renter’s insurance policy, be mindful of what it includes. You may need to discuss different riders with your insurance agent about jewelry or collectibles. You will want to consider if your policy covers additional living expenses if you are forced to move out of your rented space while repairs are being made. There are some things that renter’s insurance will not cover, such as if floods, earthquakes or sewage backup cause the damages.
Submitting a Claim
If you need to submit a claim, know the difference between replacement costs versus actual cost value. If the policy pays actual cost value, then you will receive money for the item based on what it is worth at that time. Replacement cost coverage should be enough to replace the item that is damaged by a similar one.
Liability coverage will often come standard with your renter’s insurance policy. This is useful if someone has an accident in your home, such as a slip and fall. This will provide you protection against legal claims you may have to pay. There is a limit on the amount of liability coverage you can have though. You should also be covered if there is unintentional damage to the landlord’s property based on something you caused, like a kitchen fire.
Save Up to 27% in Insurance For College Students With AmeriAgency. With More Than 20 Years of Experience, We’re Sure We Can Help!
For more information, call us at 1-888-851-5572. If you would like to receive a fast and free quote, visit us on our webpage!