What People Are Saying
Thanks for making it easy to find the cheapest renters insurance. Knowing our stuff is always protected gives me peace of mind.
Matt and Bethany, Woodbridge NJ
COLLEGE STUDENT RENTERS INSURANCE
College student renters insurance is not the first thing that most kids think about when they get ready to move out on their own. Normally, this list includes partying, finding out how they're going to do on their own and having as much fun as possible. However, there are things that need to be done in order to protect your belongings as much as possible. This is especially true when you're moving out of your main house because this is a protected environment versus wherever you're staying while you're attending classes. The cost of replacing or repairing anything that might be lost or damaged is going to be more than your monthly payment will be for college student renters insurance. Of course, if you're going to have roommates who are college students, then this might also be able to split even further making it even more affordable.
Residence Type and Location
Normally, it really doesn't matter if you're going to be living in a dorm room or sharing an apartment with friends, because there are specific online renters insurance policies that are set up for both situations. A dorm room has a slightly different level of liability and risk than an apartment building does, although they are similar. Your renters insurance agent will be able to explain the differences to you in terms of what they mean for monthly rates and how that will affect you and your income. If you're attending school based on financial aid, then you might be working a job or two to support your other financial obligations. If this is the case, then you definitely want to shop around between renters insurance for college student providers to see who is going to offer you the best price.
Remember also that you can categorize your belongings for college student renters insurance in order to break it down for your broker. Depending on what you had for lost or damaged items, there may be a different deductible that applies. The deductible that you set up at the beginning is the amount you have to pay any time an incident occurs and you file a college student claim. However, this should be the maximum extent of your financial responsibility and then your college student renters insurance provider will take care of the rest of the amount. That is why you pay a monthly premium so that your damages are limited financially when and if something does happen with your student renters insurance for college.
Replacement Value of Items
When you are talking with your college student renters insurance company, be sure to ask them how they set up the compensation value. This is important because for example if you drop your laptop when you're trying to escape from a fire in your student dorm room, your laptop will have a depreciated value. However, that depreciated value will not allow you to purchase a brand new laptop of similar quality. It is going to cost you more to replace leaving you responsible for that financial difference. However, if your college student renters insurance is set up in such a way that it gives you the full replacement value of those items, then you won't have to worry about being out any money. In terms of your clothes, personal items such as knickknacks and decorations, and anything else that you keep with you, all of these things can be added onto your renters insurance for college student policy.
It will be helpful if you make a complete inventory list of what you own so there is no question with items belonged to which people. This is the case with roommates especially in order to avoid any arguments over who should receive compensation for what items. It may also be beneficial to document all of these combined inventories so that they can be kept in a safe place and then when compensation is distributed, there's no confusion or misunderstanding. You can get tips like this also from a college student renters insurance broker because they will have lots of experience helping other students in similar renters insurance situations for college student needs.
Depending on your standing as a taxpayer, you may end up being able to claim a portion of the college student renters insurance premiums at the end of the year. This will have to do with your income level and what other expenses you are paying for, but it's definitely worth asking your accountant about to get their professional advice. They can help you get a larger refund then you may have been able to obtain on your own. When you are going to school on financial aid, any little bit of extra college student renters insurance money will help and this is certainly the case with a tax refund.