There continues to be a growing interest in how schools manage the risks associated with the management of summer camps & conferences.  This is a timely topic and one that GradGuard's renters insurance program helps to address.  

In a recent ACUHO-I discussion, the question arose on how to design summer leases / contrcts.  

Our recommendation is that the short-term summer lease / contract is vital to review with your colleagues in campus risk management.  The agreement should address personal liability and clearly state that the institution is not responsible for stolen or damaged property of residents. 

From a campus safety and risk management perspective, it is useful to consider protecting your institution from losses that result from short-term / summer residents by including an affordable renters insurance benefit as part of your summer lease. Generally, for less than $15.00 a month, a school can protect both the student and institution from financial losses.

Three issues to consider that are particularly relevant to short-term / summer program residents.

• Reduce Collections Issues - Schools may benefit from short-term residents have renters insurance and will benefit from the liability protection that may cover losses that result from unintentional damage caused by residents.  Unlike full-time students where the institution has the leverage of preventing enrollment in the next term, short-term residents may have a legal obligation but often do not have the financial capacity to actually pay for damages they cause.
• Personal Property Loss - Campus thefts and burglaries don't end during summer months.  If your school doesn't replace stolen or damaged property, it would be a valuable benefit to provide renters insurance to your short-term residents.  From bicycles to backpacks, campus visitors and residents are often vulnerable to losses that may disrupt their campus experience.  
• Affordable Benefit - GradGuard designed our renters insurance program so that can be offered on a monthly basis. Generally offered between than $12.00 - 15.00 per month - a short-term resident may receive $5,000 of property protection and $50,000 of liability protection. Greater coverage options are available and often necessary for the international students or faculty / staff your campus may serve.

Given the low cost of protection, it is a prudent idea to include renters insurance within the cost of summer housing. This $15.00 a month is well worth the coverage. At a minimum, schools are well served to verify that each student completes an electronic verification that they accept personal responsibility for losses and are provided the opportunity to easily enroll in a renters insurance program within the leasing process.