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Bryan Langford-LoftisInsuranceRenters InsuranceStillwater

The College Student’s Guide to Renters Insurance

Time for school again – and time for insurance too?

It’s August 2021, and we know what that means in Stillwater, Oklahoma: students are coming back to the Oklahoma State University campus! Stillwater rides that fine line between somewhat-rural and somewhat-urban thanks to OSU, and you really do get that feel students return and when see the relatively new apartment buildings built in the last several years.

So what do students need to know about renters insurance – especially when they are free to live off-campus and begin making their own way?

Renters insurance protects your stuff — and more

Renters insurance is very similar to homeowners insurance with one major difference. You are insuring your stuff – while the property manager or landlord is insuring your building. So when something like bad happens at your apartment complex, your policy takes care of your belongings, while the property manager’s policy takes care of the building. Likewise, if your laptop, bike, or backpack of precious, precious textbooks get stolen, your policy will be there for you. But that’s not all.

Renters insurance also provides “loss of use” and liability coverage to name just a few. When you can’t use your apartment while it is getting repaired, your Loss of Use coverage helps you pay for housing and necessities (like at a hotel room, groceries, etc.) in the meantime. Liability coverage is going to help you in in legal suits – like when you accidentally cause damage or injury to someone else.

The property manager might require it

More and more apartment complexes and landlords are requiring their tenants to take on renters insurance. Having a renters policy makes you an attractive tenant because is shows you have a sense of responsibility. Like your car insurance, it also shows you have the ability to pay for damage in an accident regardless of your bank account.

Renters Insurance: the gateway policy

You may have heard the advice of getting a credit card just for gas, and pay it off on time every month to start building your credit score. In a similar vein, your renters policy helps you start your property insurance journey. You start building an property insurance history by maintaining a policy long-term and keeping up payments. When the time comes to move on to a homeowners policy, that insurance history will discount that new policy!

Say “package policy discount!”

Last but certainly not least – a renters policy can mean lower auto insurance payments! Write your renters and auto insurance with the same provider, and you might see even lower rates than before!

Bonus: moving from a bigger city?

Is auto insurance more expensive in your hometown? For example, if you’re moving from Tulsa, OK or Dallas, TX, you might know that car insurance is a pretty big ticket item. Those “territories” have a lot of cars — and a lot of accidents too. Clients of mine have saved a lot of money by moving their auto insurance in with along with their renters insurance. Sometimes — it just makes sense!

Is it time to get started?

A renters policy is easy to issue, and very inexpensive to maintain. For the cost of about 4 cups of coffee, you can likely pay for one month of renters insurance. Thinking about myself, that could have been just one day’s worth of school fuel!

Ready to get started? Here are a few ways you can begin:

  • Call my office at 405-334-5477.
  • Get instant estimates by providing some information online by clicking here  . If one looks good, I will contact you to convert the quote to a policy.
  • Schedule a time to visit or for me to contact you on my calendar here.
  • Or just fill out the contact form below!

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