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The Truth About Your Homeowners or Renters Policy

Students and their families mistakenly believe that the homeowners insurance on their primary residence adequately covers the student's property. Yet, the typical deductible on a homeowners policy often exceeds the cost of a student's electronic device.

Here are some crucial facts:
  • About 50% of student property losses are not recoverable under a typical Homeowners or Renters policy
  • This Student insurance covers losses not covered under Homeowners or Renters policies
  • Average Homeowners or Renters policy deductibles are $500-$1,500
  • Homeowners or Renters policy Payments sometimes are reduced to account for depreciation
  • Claims from students may increase homeowners rates and can even threaten your coverage
  • Even when a loss is recoverable under a Homeowners or Renters policy, the recovered amount is much lower because of their high claim deductibles
  • Our Student K-12 Device Insurance policy is Primary coverage. No need to blemish your claim history with the policy covering your permanent residence
  • The average policy premium for 365 days of Student Device protection is less than 14 cents per day

Never FearSM — K-12 Student Device Insurance from Arthur J. Gallagher & Co. and Allianz offers peace of mind that fits your budget and your life.

With insurance broad enough to handle real student situations, coverage you can adapt to your personal needs, and prices you can afford, Student Personal Property Protector Plus® gives students and their families the security they really need.

Homeowners Policy **
Will the policy pay first if I have a loss, even if I have other insuranceYESNO
Does the policy cover theft?YESYES
If I study abroad during the school year, does the policy still cover my personal property?YESYES
Is the school's personal property in my possession covered?YESMAYBE
If I borrow or use school equipment, will it be covered under my policy?YESMAYBE
What's the maximum limit of coverage that's available?$3,000 + 10% of HO Policy contents limit ***
What is the lowest deductible that is available?$25Normally $500
Does the policy cover accidental loss or damage?YESNO
If a liquid is spilled on my computer, will my policy cover the damage?YESNO
If my $649 iPhone is stolen, how much can I recover?$624$0 to $149
Does my policy cover damage due to earthquakes and all types of flood damage?YESNO
If I drop my computer and crack the screen, will it be covered?YESNO
Can I file my claim online 24/7?YESMAYBE
Is Replacement Cost Coverage Standard?YESNO
How is value of loss calculated?Replacement CostMaybe Depreciated Value
When I file a claim, is a picture of the property and an inventory list of items sufficient?YESMAYBE
Do you offer limited peril or broad form coverage?Broad FormLimited Named Perils
Are sewer backup claims covered?YESNO
* Comparison of: our Student Personal Property Protector Plus vs. Industry Standard Homeowners Policy - for student property away from home coverage comparison as of 01/01/2012
** Homeowners policy used for comparison is Fireman's Fund HO 00 04 10 100
*** Some homeowners policies can be modified to broaden coverage but generally can not offer all that our Student policy offers.
**** Average claims paid under our Student coverage are between 25% and 200% more than would be recovered under a homeowners policy.