College is not only the first time young adults move out on their own, its also the first time that they really start to acquire their own possessions such as computers, electronics, and furniture that are not so easy replaced if they are lost, damaged, or stolen. Just as you would as a homeowner, your college student may want to consider a renters insurance policy. Even if your homeowners insurance policy provides coverage for your college student’s personal property, it may only provide a limited percentage of the value of the items being claimed. The exact percentage varies from policy to policy.
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Why Your College Student Needs Renters Insurance
Renters insurance is basically a personal property insurance policy that covers the property of the policyholder. This applies to a student renting an apartment or house off campus or living in on-campus housing. For example, if your student’s laptop gets stolen in the library or is damaged by fire in their apartment it will be covered by their renters insurance policy.
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What Coverage Should Your College Student’s Renters Insurance Offer
For college students, coverage is primarily for property protection to assist you in replacing items. A typical policy would cover the following scenarios:
- Smoke Damage
- Lightning Damage
- Discharge of Water
- Hurricane Damage
- Flooding Damage
- Loss of Use
WBR’s renters insurance is flexible, allowing you to select the coverages and insurance amounts that suit your needs.
How to File a Renters Insurance Claim
As with most policies, filing a a claim through a renters insurance policy starts with a phone call. It is important to keep records of your purchases by keeping a copy of the receipt and taking photos of your belongings. The Insurance Information Institute has a free online program that allows you to catalog all of your belongings. It is available at https://www.knowyourstuff.org.
At Virginia Beach insurance company WBR Insurance we offer a full portfolio of policies, including renters insurance. We pride ourselves in establishing personal relationships with our customers to assist you in protecting what matters most. To get a free quote for your Virginia Beach renters insurance needs, give us a call at 757-340-0028 or visit our website www.WBRInsurance.com.
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