All housing students are required to carry renters insurance and must provide their carrier name and policy number.
Even if you do everything to protect your home, accidents can happen. While NYMC does not recommend any one insurance company to deal with, we require that while living on campus, students obtain coverage. It is important to confirm if your parents' homeowners insurance carrier if the student’s property (including computers and other electronics) will be fully covered for loss while housed outside of the family dwelling.
What is it?
Similar to Homeowners Insurance, it provides renters with coverage for personal property loss or damage. It could also provide you with temporary housing and liability coverage. Insurers will often tailor renter's insurance plans to the specific needs of the tenant.
What does it cover?
- Television or entertainment system
- Musical or sporting equipment
- Liability coverage
- Additional living expenses
Renter's insurance policies and prices differ with each insurance company. Make sure you discuss the terms of the insurance plan with your provider.
Why Get Renter's Insurance?
NYMC will not reimburse students for any loss or damage to your your personal property. Without renter's insurance, your personal property is not protected against loss or damage. Protect yourself from:
- Fire or Lightning
- Vandalism or malicious mischief
- Accidental discharge of water
How Much Does it Cost?
Renter's insurance policies with a $50,000 property value limit can run from $100-$300 premiums per year. That's only $8.33-$25.00 per month. Where you rent determines how much you will pay for insurance. Contact any insurance company today to get a quote and to obtain this valuable resource.
Where Can I get Renter's Insurance?
- Many Insurance companies offer renter's insurance. Contact your provider to see if they offer coverage options.