Winter term has started back up at schools around the country. College students are once again hitting the books and gearing up for an eventful semester rife with study groups, midterms and all-nighters spent at the library. If we’re being honest with ourselves they’re gearing up for the winter party season too. And if your student rents an apartment, condo, townhome or house they need a Renters Insurance policy to protect their belongings from damage and themselves from liability.
Why Renters Insurance?
It’s cheap. For just $184 a year your student is provided with the following three types of coverage:
- Liability – If one of your student’s guests is injured while on the rented property, your child will be protected from any lawsuits
- Personal Property – Their valuables will be protected from covered events such as theft, vandalism or a natural disaster – most policies will even replace their busted laptop!
- Additional Living Expenses – If your student is displaced for any amount of time, renters insurance will pay for their temporary housing and meals until their rental is repaired
You might not think your child’s belongings are worth enough to invest in renters insurance, but you would be wrong. Even the poorest of students has valuables worth protecting.
Does your child own a laptop, an iPad or tablet? How about a television or Blue-Ray disc player? Even just their mattress and bedframe is worth protecting.
How do I choose a policy?
Talk to your insurance agent. Here at Joyce, Jackman & Bell Insurors we would be happy to help guide you through the process of selecting a Renters Insurance policy.
Our policies offer either “cash value” or “replacement cost” claim service.
Cash Value will reimburse you for the cost of an item at the time the claim is made at its depreciated value.
Replacement Cost pays for the full replacement value of an item, minus the cost of the deductible.
Source – Do College Students Need Renters Insurance
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