Insurance
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      1. The White Paper for F1 Students
      2. F-1 Living in U.S.
      3. Insurance

      F-1 Insurance: Renters Insurance

      This article explains what renters insurance is and discusses important consideration for purchasing it.

      Renters insurance provides protection for international students living off-campus. Although it may not be required by your rental agreement, it is advisable to purchase it if your budget permits.

      What is Renters Insurance?

      Renters insurance is designed to protect your personal belongings, such as furniture, appliances, and other valuables. It also provides liability coverage, loss coverage, and medical payment. For example, if a fire damages your furniture or appliances, renters insurance can help cover the repair or replacement costs. Additionally, if someone is injured in your home, the insurance can help pay for their medical bills.

       

      Renters Insurance vs. Homeowners Insurance

      Your landlord may have homeowners insurance to cover the house itself, including structural damage from events like earthquakes. However, this insurance does not protect your personal belongings. There are homeowners insurance and renters insurance are complementary.

       

      What Does Renters Insurance Cover and Not Cover?

      Covered

      Not Covered

      • Personal Property Insurance: Most of your furniture and personal items are covered. However, high-value items like jewelry may require additional coverage.

      • Liability Insurance: If someone damages your belongings in your home, the insurance can cover the costs.

      • Loss Coverage: If your home becomes uninhabitable due to an unexpected event, the insurance can help pay for temporary lodging and meal expenses.

      • Medical Payments: It can over medical expenses if someone is accidentally injured in your home.

      • Additional Coverage Options: You can add theft insurance (usually included in homeowners insurance) and pet liability insurance, which often requires an extra deposit (e.g., around $500 for a cat in Los Angeles).

      • Preventive Loss from Accidents: Such as fire or disaster prevention measures.

      • Damage from Rodents: Including bedbugs, mice, cockroaches, and other pests.

      • Damage to the Building Structure: Includes permanent fixtures such as fireplace.

      • Losses Due to Lease Violations: Damages resulting from the tenant violating the lease agreement.

      • Damage to Vehicles: Losses to vehicles or other forms of transportation owned by the tenant.

      • Losses from Military Actions: Including war, civil unrest, terrorism, or nuclear attacks.

      • Natural Disasters: Such as floods, earthquakes, and tornadoes, unless you have specific insurance plans for these events.

       

      How to Buy Renters Insurance?

      The following insurance companies offer renters insurance. It is advisable to compare quotes from different provider, understand their policy details, and examine claims processes to choose the most suitable insurance plan for you.

      • Stillwater Insurance

      • Liberty Mutual

      • Progressive

      • Lemonade

      • Allstate