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Do you have a child that is attending college this year? We want to make sure your son or daughter has the proper coverage.

Dorm, apartment, or does it matter?

Where your college student lives while they are attending school is what helps determine the coverage they need.  Did you know that your homeowner’s insurance policy most likely provides a coverage extension to your child while they are a student living in a dorm room?  Most homeowner’s policies automatically provide a 10% extension of the Personal Property Coverage limit for your full-time student away from home.  Some carriers have certain time limit provisions regarding theft, and may require an additional endorsement if your child is over 24 years old, or a part-time student.  Please call us to verify that your particular homeowner’s policy will extend coverage to your child residing in a dorm.

Renter’s Insurance Misconceptions

If your child will be renting an apartment while attending school, we encourage you to purchase a Renter’s Insurance policy for him/her. There are some common misconceptions about Renter’s Insurance that we would like to help you clear up.  First, the coverage purchased by the property owner, or landlord, will not cover the personal property of any tenants.  Some people may not feel their belongings are valuable enough to warrant purchasing a policy, but things like electronics can add up quickly.  Not only does a Renter’s policy cover personal property and tenant negligence, it also provides additional living expenses for a temporary residence if the insured location becomes uninhabitable due to fire, tornado, or any other covered loss.

Still, others question the likelihood of a “covered loss” even happening. “Couldn’t I just take my chances, roll the dice, and hope for the best?”  This is exactly why some people do not purchase Renter’s Insurance.  Whether the probability is high or low, the purpose of insurance is to protect the policyholder against financial hardships due to uncertain loss.  If the need arises, we would much rather you call us to file a claim, than see another GoFundMe campaign in lieu of an insurance policy.

Another misconception occurs when multiple tenants occupy the same apartment and one person purchases insurance.  Unless the occupants are all relatives, the only person whose belongings and negligence is covered is the one whose name is listed on the insuring contract.  Finally, some folks fail to make that call to their insurance agent because they think it will be too complicated or take up too much time.  Sure, insurance policies and forms can be challenging, but Renter’s Insurance is one of the least complicated products we offer and we’d love to help you out.

What should you do?

You’ve got Susie’s living arrangements squared away, and as you think about your most precious cargo leaving the nest, you pull out your phone and begin reading statistics on the high rate of residence hall robberies at her school. You panic for a moment and make a mental note to call us in the morning, just to verify no extra endorsements are needed.  In the meantime, you are able to rest assured because the homeowner’s policy you have through Kasmann Insurance will extend to cover all the things you just purchased to furnish Susie’s dorm room.

Likewise, you spend the weekend helping Johnny get set up in the apartment he’ll be sharing with his friends at school.  While you know he is a great kid, mature for his age, and generally responsible, your mind starts to wander and think about all the late night parties and if anyone will remember to turn the oven off after the 1:00 a.m. frozen pizzas.  You call your our Kasmann Agent on Monday morning, learn about the Inventory Forms they provide, and begin estimating how much coverage Johnny will need for his personal property.  You are then able to call back and purchase Renter’s Insurance for Johnny in just a matter of minutes.  You also place a call to Johnny and tell him to encourage his friends to purchase coverage of their own.  Renter’s insurance is relatively inexpensive, with rates on average at around $185 per year and insurance protection offers peace of mind…even if it is mostly for mom and dad!