Cheap Renters Insurance For College Students – There are many things to think about when moving to a new place. One thing that may not be at the top of the list but is definitely important is tenant insurance.
Fortunately, there are plenty of great tenant insurance options out there, and it doesn’t have to be expensive.
Cheap Renters Insurance For College Students
When it comes to insurance, students often think they are invincible. However, the reality is that even young adults need to protect themselves from the unexpected. One type of insurance that is especially important to students is tenant insurance.
What Is Renters Insurance And What Does It Cover?
After all, did you know that in 2019 alone, one Maine university reported more than 860 crimes on campus – many of which involved theft or burglaries?
As you can see, there are many good reasons to buy tenant insurance. Don’t wait until it’s too late – find out how to get insured today.
The cost of renter insurance depends on a number of factors, including the value of your personal effects, the amount of coverage required, and the excess you’re willing to pay.
Most policies have a maximum coverage limit of $100,000, but you can usually purchase additional coverage if needed.
What You Can Expect From A Renters Insurance Policy
The average annual excess for a tenant’s insurance policy can vary depending on the insurer and the type of policy you choose. In Maine, the average cost of tenant insurance is lower than the national average.
In general, the higher the deductible, the lower the premium. You can also save money on renter’s insurance by combining it with other types of insurance, such as auto insurance or life insurance.
To give you an idea of who you could be, we’ve collected quotes to provide you with an estimate of the pitch. These figures are based on a 20-year-old student and include $20,000 for personal property insurance, $100,000 for personal liability, $6,000 for loss of use and $1,000 for medical payments to others.
Please note that these do not include additional protection for electronics or valuables, which are usually listed as separate add-ons to the policy.
How To Get Renters Insurance For College Students
Want to learn more about tenant insurance in Maine? Here is a breakdown of what each company offers for Maine student insurance tenants.
USAA offers a variety of plans to suit your needs. A respected company that has been in business for over a century and has a phenomenal reputation with an A++ rating from AM Best.
One of the benefits of USAA tenant insurance is affordability. You can buy a policy for as little as $10 a month. In addition, USAA offers water damage and theft insurance, which can be beneficial if you live in an area with a high crime rate. Keep in mind that like many tenant insurance companies in Maine, USAA only insures damage caused by fire, smoke, or explosions.
The biggest downside to USAA is that these policies are only available to active duty military members, veterans or their families.
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Allstate tenant insurance policies provide protection for your personal belongings in the event of fire, theft or certain types of water damage. In addition, it can also help with expenses if you need to temporarily relocate due to an insured event.
Allstate has been in business for decades and offers all kinds of discounts that make switching to this type of policy a breeze. There’s also a phenomenal mobile app!
Nationwide offers several different tenant insurance policies that can be tailored to each tenant’s needs. For example, the company’s “Standard” policy provides coverage for up to $100,000 in damage to personal property, with optional coverage for additional items such as jewelry or artwork.
Lemonade tenant insurance policies start as low as $10 a month in Maine and offer a variety of coverage options to choose from. For example, you can add water damage coverage, personal liability, and even pet medical expenses. Best of all, their policies are backed by A-rated carriers, so you can rest assured that you’re getting quality protection.
How Much Does Renters Insurance Cost? (2023)
While Lemonade is a newer tenant insurance company, it has plenty of customization options and even a handy mobile app!
Gradguard offers comprehensive protection for your belongings in the event of theft, fire or other natural disasters. It also provides liability protection. You can customize your policy to suit your needs and budget, and discounts are available if you combine your policy with other insurance.
GradGuard offers affordable policy rates that are specifically tailored to students. There are many discounts you may be entitled to, including discounts on installing a smoke alarm or security system. It even has worldwide coverage, so your belongings are covered wherever they are!
When it comes to protecting your personal belongings, Safeco offers tenants a variety of insurance policies to suit your needs.
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Whether you’re looking for basic coverage or something more comprehensive, Safeco has a policy that’s right for you. And because each policy is tailored to your individual situation, you can be sure you’re getting the protection you need at a price that’s right for you.
And if you’re looking for a great car insurance policy, guess what? Also in this area, Safeco offers some of the best in the country.
Acuity offers tenants comprehensive insurance coverage to give you peace of mind. The policies cover content replacement, personal liability and additional maintenance costs if your home is uninhabitable due to a covered event.
They also offer optional coverage for high-value items such as jewelry, artwork, and electronics. Best of all, tenant insurance is affordable, starting at just $13 a month.
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American Family Insurance offers a variety of insurance products, including tenant insurance. As with any insurance policy, there are pros and cons to consider before purchasing a policy from AmFam.
One of the main benefits of AmFam Tenant Insurance is that it covers the cost of treating guests who are injured on your property. This can give you peace of mind in the event of an accident. Another advantage of AmFam Tenant Insurance is that it offers substitute protection for personal belongings that have been damaged or stolen. This can be extremely useful if you have expensive items that are not covered by your tenants insurance policy.
That said, AmFam tenant insurance has a higher excess than some other policies. This means you will have to pay more out of pocket if you need to apply.
If you are renting a house or apartment in Maine, you may be wondering if you need to purchase tenant insurance.
Cheap Renters Insurance: Most Affordable Quotes In 2023
There is no statewide law requiring you to have tenant insurance in Maine. However, it’s a good idea.
While your landlord’s insurance policy covers the physical structure of the property, it does not cover your personal effects.
Also, most landlords’ policies do not cover liability insurance, which means you can be held liable for any accidents or damage that occur to the property. For these reasons, it is important to consider purchasing tenant insurance.
First, make sure you have enough protection to replace all your belongings in case of loss. Second, make sure you choose a policy with adequate liability coverage in case someone is injured on your property. Finally, make sure you shop around and compare rates from different insurers before choosing a policy.
The Importance Of Renters Insurance For College Students
Maine’s tenant insurance policies are pretty basic. Read the fine print to find out what your specific policy covers, but know that in Maine, like most states, most policies do not cover flood or earthquake damage. Any structural damage or damage to your roommate’s property is also not covered by the warranty.
Maine tenant insurance is a great way to protect your possessions in an emergency. By learning about the best and cheapest insurance policies for tenants in Maine, you can rest assured that you are fully insured against theft, fire or any other disaster.
Make sure you shop around for a policy that suits your needs and budget, and be sure to ask questions to understand what your cover covers.
Sarah Gilbert is a licensed insurance broker specializing in auto, home and tenant insurance. She checks College Educated insurance content for accuracy and is especially passionate about making sure students and recent graduates have the right insurance coverage. Her latest passion is researching all forms of business insurance to provide adequate protection for recent college graduates who are thinking about entrepreneurship. Affiliate Content: This content was created by a Dow Jones business partner and then researched and written independently of the editors. Links in this article may earn us a commission. Learn more
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According to our evaluation methodology, State Farm and Allstate are among the least expensive tenant insurance companies in the entire United States.
Written by Mike Miller, Written by Mike Miller Senior Writer Mike Miller is a writer with a decade of experience creating product and service content to help consumers make informed purchasing decisions. Mike has a bachelor’s degree in creative advertising. In his free time, Mike likes to ride and repair motorcycles, read a good book and spend money
