Top 7 Reasons to Adopt a College Renters Protection Program

January 31, 2020 12:27:51 PM EST / by GradGuard

The College Board indicates that more than 1,237 institutions now guarantee student housing for all freshmen with many institutions requiring students to live on campus. This requirement has many benefits, but it has also created new forms of risk for students and their families. Furthermore, this risk has compelled more than 125 colleges and universities to embrace GradGuard's Renters Protection Program.

Below are just a few of the reasons you may consider implementing GradGuard's Renters Protection Program:

1) No-Cost to the Institution This Student Benefit provides real value to residents & the institution. It can help pay for stolen or damaged property when the school may not be able to. 

2) 100% of residents are eligible for preferred coverage the only student endorsed renters insurance program designed specifically for college life.  International students and students with limited or no credit score are each approved.

3) The only renters insurance program designed for college life featuring a proprietary student endorsement that provides a deductible as low as $100, global property coverage and enhanced coverage for electronics.

4) Practical financial literacy topic where each resident acknowledges the schools liability policy during the leasing process, GradGuard's Program assures that the school has evidence that each resident understands their responsibility. Furthermore, residents are not provided an "active-choice" feature to voluntarily purchase GradGuard's renters insurance, if they so choose. Such awareness will prepare students for living independently both on and off-campus.

5) High levels of student participation and protection.  GradGuard implements a number of flexible programs including:

A) "Active-choice" programs where each resident is provided the opportunity to purchase protection and acknowledge the risk if they decline.

B) Involuntary programs where all residents are provided coverage.

C) Waiver programs where residents must demonstrate liability coverage prior to moving on campus.

6) Reduce the costs of financial losses to students and the institution.  GradGuard can help residents recover from financial losses or pay for unintentional damage for which they may be found responsible.  Only schools that work directly with GradGuard will receive participation reports of insureds making it easier for the school to collect on damages and assist students with recovering from property losses.

7.) Non-exclusive risk transfer program that reduces financial losses to schools and students.  The GradGuard renters protection programs also reduce the costs associated with managing claims processes or dealing with upset students and families who may otherwise blame the institution for the financial loss to their student.



Join the Network of Schools who Provide a Modern & Green Approach to Protecting Their Students

 

Contact GradGuard to learn more about how your school can protect your students and campus residents with our renters protection program. 

Tell Me How We Can Protect Our Students & Institution

Topics: renters insurance, dorm living, Renting, Best Practices by Colleges, Renters Liability, Student housing, Campus Safety, college risk

GradGuard

Written by GradGuard

GradGuard’s mission is to help schools protect the investment in higher education of the students and families they serve. Each student deserves the opportunity to succeed and protect their investment in college. By protecting students and their families from risks from college life, GradGuard helps reduce the cost of college and promote greater student success. GradGuard's modern tuition and renters insurance programs are valuable student benefits available through a network of more than 330 colleges and universities. Since 2009, GradGuard's insurance programs have protected more than 700,000 students and families. For more insights on #collegelife follow @GradGuard

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