Renter's Insurance

What is Renter’s Insurance?

Renter's Insurance is insurance to protect against the loss of your items in the apartment.  Residents' belongings are not covered by JSM's insurance. JSM is not responsible for the loss of personal property as a result of fire, theft, or any other cause.  We strongly suggest all residents get Renters' Insurance to protect their personal property.

 

How can I get renter's insurance?

Many students are eligible for coverage under their parent’s homeowner’s policy. This is not automatic. Residents usually must contact their parents, along with the insurance carrier, to arrange for coverage.

If you own an automobile, call the company that carries your auto insurance. Often, companies give a reduced rate to policyholders that have both homeowner’s/renter’s insurance and auto insurance through the same company.

Compare policies based on the following:

  • Annual premium – the amount you will have to pay each year for coverage.
  • Deductible – the amount you will have to pay before the company will cover your damages.
  • Extent of coverage – the maximum amount for which you can make a claim.
  • Replacement cost – the insurance company will pay to replace the lost property, rather than merely reimbursing you the depreciated value. 
  • Alternative housing costs for hotel bills if a fire forces you out of your home. This coverage should be for as long as possible.
  • Exemptions – Insurance shoppers should expect some exemptions and make sure that they have coverage for everything they need. Be sure property such as a home computer, jewelry, antiques, photography equipment, etc. is covered by your policy.