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Facts
and Information - Just for Renters
Did you know …
- Contrary
to popular belief, your landlord's insurance does NOT cover
your personal property.
- According
to the Bureau of Justice Statistics, property crime was more
likely to occur amoung households residing in rented property
- An
April 1999 study conducted by the Insurance Research Council
found that only 23% of renters have insurance for their personal
property.
- A
study conducted by the Independent Insurance Agents of America
in cooperation with the College Parents in America found that
80% of students who rent have no renters insurance.
- This
is number is important because 55% of students live away
from home during the school year (20% rent off-campus apartments
and 10% own their own home).
- When
it comes to buying renters insurance to protect personal possessions,
few students bother with the investment because they think
that they're covered under their parents policy.
- However,
according to the Independent Insurance Agents Association
of New York Inc., parents' homeowners policies provide only
limited protection for their children's belongings while
on campus.
- Students
are only covered by about 10% of their parents' policy when
living in an apartment.
- According
to a recent article published in PR Newswire, those people
who are most at risk for property losses at school are…
- Students
who live away from home.
- Students
who rent (especially those who rent in their own name or
co-sign a lease with a parent).
- Students
who live in group houses (including fraternity and sorority
houses).
- Students
who own expensive electronics, sports equipment or jewelry.
- Students
who live in large cities or high crime areas.
- Students
who travel frequently (including students who travel or
study abroad).
- Students
who run businesses from their dorm or apartment (i.e. typing
papers or tutoring).
- Students
who host frequent parties.
- Students
who have animals (especially dogs) at school.
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