Attending College? Consider Renter’s Insurance

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Will Sarvey

The great thing about renting is that you usually don’t have to deal with home improvements, major repairs or mowing the yard. Yet, renting isn’t worry-free.

According to Will Sarvey, a certified insurance counselor at Sarvey Insurance, “the vast majority of colleges and universities are very safe; however, there are perils faced by college students that warrant a serious consideration of adding renter’s insurance to their dorm or apartment checklists.”

There’s always the chance of a fire, water damage, burglary or some other calamity that could turn your life upside down.

Imagine if all your belongings were ruined or stolen and you had to start from scratch with a new laptop, TV, clothes and all the other items you rely on in your daily life.  If you didn’t have renter’s insurance, you would find yourself in a deep financial hole.

“As a former college student, I get it;” states Sarvey, “money is tight for you and for your parents – the good news – renter’s policies are very affordable and may provide you with an additional discount on your auto insurance.”

It always helps to speak with your insurance agent to weigh the benefits of adding a renter’s policy, as some homeowner’s policies may provide coverage for college-bound students.

Unfortunately, a lot of renters are at risk because they don’t bother thinking about insurance until it is too late. And while your landlord likely has an insurance policy, more often than not that policy only covers the building and not your personal stuff.

“Another great aspect regarding a renter’s insurance policy for college-bound students is that it can protect them and their personal property anywhere in the world,” says Sarvey.

“A good renter’s insurance policy even protects you if you accidently harm another or damage property.  Let’s face it, mistakes happen.”

Often overlooked by most people is the significance of Loss of Use in a homeowner’s or renter’s insurance policy.  Say your apartment or dorm caught fire – where would you stay?

Would you or your parents have enough money to cover the additional living expenses?  Don’t feel bad if the answer was no to those questions.

“One of the major considerations for renters or college students who suffer a major loss is not being able to carry on with their studies or having to live in makeshift accommodations;” Sarvey adds, “A good renter’s insurance policy will protect you, your personal property, and your quality of life.”

That is the purpose of a solid renter’s insurance policy.  It protects you so that you can keep moving toward a brighter future.

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