Student Life Uncategorized

What to Ask Your Renters Insurance Agent

November 15, 2018

Being an adult can mean so many different things; first, you have to do your own laundry, second make your own coffee, and third purchase your own renters insurance policy. This can honestly be super daunting to those who still have issues making their own dentist appointments, but we’ve made a simple list of things that you should be sure to ask your renters insurance agent when the time comes!

How do I know what my coverage limits should be?

Most renters insurance policies come with both personal property coverage and personal liability coverage. Personal property coverage is the limit that protects your personal items that are inside of your residence, and personal liability coverage is what protects the actual structure itself. Be sure to talk to your university or rental property to see if they require any specific limits while you are living there.

How much is the policy?

See if your renters insurance agency is charging you monthly, annually, semi-annually, or another billing option. Talk through it with them to see if there is a benefit to one billing option as opposed to another.

How long does the policy last?

This depends on the company that you are purchasing through and what you opted to pay for the policy. If you paid annually, then the policy likely lasts for a full 12 months from the date that you chose your coverage to begin. If you are only needing the insurance for a certain amount of time, be sure to ask your agent about their cancelation process and what is required to terminate the coverage.

What does this policy cover?

This is SUPER important to ask and have an understanding of. For example, if you want to have renters insurance in case someone breaks in and ransacks your apartment, just be sure that theft and burglary is a covered peril under the policy you are wanting.

How does the claims process work?

This is a general question with an important answer. Most people have no idea how to make an insurance claim if needed and it should be one of the top questions to ask your renters insurance agent. The claims process can be different for each agency, so just to be sure you clarify it if needed.

When it comes to purchasing renters insurance, questions are important to ask! We want you to ask questions and have a full understanding of what you are getting. It is so important to know that we are here to help you. Much like a doctor, you should be asking your renters insurance agent as many questions as possible and do not feel like any question you have is too small or too silly. GradGuard has your back and encourages you to ask whatever questions you think are necessary. We are there when you need us and will help you with all of your adulting needs.

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