American Family renters insurance for college students offers students protection for their personal belongings and most prized possessions. College students leaving home for the first time are often unfamiliar with things like renters insurance, however, renter’s insurance is very important. With all the other things college students have to worry about, protecting their belongings from being damaged or destroyed should not be one of them. Choosing a good insurance company can make a difference. This AmFam renters insurance review can hopefully answer any questions and concerns you may have.

About American Family Renters Insurance Coverage

American Family (AmFam) has been offering insurance protection for customers for more than 65 years. In addition to their home insurance, auto insurance, health, and life insurance, there is also American Family renters insurance for college students. In partnership with Homesite Insurance Group, American Family can offer college students renters insurance that is not only affordable but also customizable to meet each student’s individual needs.

American Family understands that college students typically lead very busy lives and wants to make their lives as easy as possible and save them as much time as possible. Paying premiums is only one of the many ways they save students time. Premiums can be paid in the following ways.

Automatic Funds Transfer – Payments come out of your savings or checking account automatically when due.
Online Billings – Students can receive their bills online and decide how they want to pay.
Pay Immediately – Students can go online at their leisure to make their payments.
Pay by Phone – Students can call the AmFam office and make the payment over the phone.
Online Bill Paying service – Students can set up automatic payments through an online bill-paying company or an online bank.
By US Mail – Students can make their payments via US mail.

American Family renters insurance for college students only pays for things inside the rental home. It does not cover damage done to the building. This type of damage is covered under a homeowner’s policy, which is the responsibility of the landlord.

American Family renters insurance consists of a few different coverage areas.

Personal property – This coverage will pay for damage to the student’s personal belongings. Coverages of $15,000 to $50,000 available.
Medical payments – This coverage pays for medical bills for people that are injured on your rental property. Coverage of $5,000 or $10,000 per person is offered.
Personal liability –This coverage protects the student from being sued by someone that was injured while in the student’s home. It will also help pay legal expenses if the student is sued. Coverage of $300,000 or $500,000 per event is available.
Loss of use – This coverage will pay the student to temporarily live somewhere else if the rental home was damaged by a covered peril. It will pay for food, hotel bills, and possibly even transportation. This is typically 30 percent or 40 percent of the personal property coverage

American Family also offers students various discounts, such as full-payment discount, paperless discount, and autopay discount, among others. Additional discounts, like loyalty discounts, generational discounts, multi-product discounts, and smart home discounts may also be applied.

American Family offers three tiers of coverage: economy, traditional, and premier. One of the first things college students and their families do when choosing an insurance company or performing an AmFam renters insurance review is to check out their rates.

Here are some sample rates based on different variables, such as deductibles, location, and coverage. All of these premiums are based on the student getting the pay in full discount and the autopay discount.

NYC College Student Renters Insurance Sample Quote

A student living in a one-unit house in New York City, NY could expect to pay $42 per year for a policy that offers:

$30,000 – Personal Property
$100,000 – Personal Liability
$1,000 – Medical Liability
$4,500 – Loss of Use
$1,000 – Deductible

If the student wanted to lower the premium to $30 per month, the student could decrease the personal property coverage to $15,000 and increase the deductible to $2,500.

Atlanta College Student Renters Insurance Sample Quote

A student living in a single-dwelling home in Atlanta, Georgia can expect to pay $33 per month for a traditional policy that offers:

$25,000 – Personal Property
$300,000 – Personal Liability
$5,000 – Medical Liability
$7,500 – Loss of Use
$1,000 – Deductible

If this same student wanted to lower the premium, the student could choose the economy coverage for $27 per month and get this coverage.

$15,000 – Personal Property
$300,000 – Personal Liability
$5,000 – Medical Liability
$4,500 – Loss of Use
$1,000 – Deductible

Wisconsin College Student Renters Insurance Sample Quote

A student attending college in Madison, WI, and living in a single-dwelling home might pay a premium of only $19 per month for this traditional coverage.

$25,000 – Personal Property
$300,000 – Personal Liability
$5,000 – Medical Liability
$7,500 – Loss of Use
$1,000 – Deductible

If this same student went down to the economy package, the premium would be $14 per month. If the student would choose the premier package, the cost would be $29 per month with this coverage.

$50,000 – Personal Property
$500,000 – Personal Liability
$10,000 – Medical Liability
$20,000 – Loss of Use
$1,000 – Deductible

Ohio College Student Renters Insurance Sample Quote

A college student attending college and living in a single-dwelling home in Cleveland, OH can expect to pay around $24 per month on the traditional policy with this coverage.

$25,000 – Personal Property
$300,000 – Personal Liability
$5,000 – Medical Liability
$7,500 – Loss of Use
$1,000 – Deductible

The student would pay $19 for the economy coverage and $39 for the premier coverage. American Family allows students to customize their coverage to meet their individual needs and lifestyles.

Premium rates are not going to be the same for every college student. Different factors go into determining what rate a college student may be required to pay.

Claim history
Location
Type of home (one-story, two-story, etc)
Size of home (one unit, two units, etc)
Home construction (wood, brick, etc)
Deductible
Credit history
Any discounts students may get

Limits

American Family renter’s insurance is no different than other companies in the fact that they also have certain limitations to what they’ll cover. They provide coverage on the following things.

Lightning damage
Hail damage
Tornado damage
Fires and wildfires
Smoke damage
Power surges
Weight of ice and snow
Acts by pets and children
Vandalism and theft
Frozen interior plumbing

Here are some exclusions or things they will not cover.

They will not cover your roommate’s possessions.
They will not cover any home business you’re operating in your rented home or space.
They will not cover pets but do offer add-on pet protection.
They will not cover more than $1,500 in jewelry.

Deductibles

American Family renters insurance for college students offers students the choice of $250, $500, $1,000, or $2,500 deductible. For those unfamiliar with deductibles and how they work, the deductible is the amount the student must pay on a claim before the insurance company will pay anything.

If a fire destroyed all the student’s possessions, which were insured for $15,000, and the student chose a $1,000 deductible, the student would pay $1,000, and the insurance company would pay $14,000.

Increasing the deductible will lower the premium and decreasing the deductible will increase the premium.

College students are advised to choose a deductible amount that they would feel comfortable paying out of their pockets. The deductible is usually per claim not per year. American Family offers some unique features, such as the Diminishing Deductible Coverage, that allow students to decrease their deductibles to save them money.

The first option allows students to save money immediately. If they choose a $1,000 deductible, American Family will pay $100 towards that, which automatically decreases the deductible to $900. The second option decreases the student’s deductible each enrollment year as long as the student keeps the policy with AmFam and hasn’t made a claim. If the student does happen to have a claim, the student will get a decreased deductible.

Claims

Filing a claim through American Family renters insurance for college students is relatively simple and stress-free. All you have to do is call their 1-800 number or log in to their mobile app. You’ll have to provide the following:

Time and date of the loss
A description of what happened and how the loss occurred
Any pictures you may have of the items lost or damaged
Information or contact numbers for any others that may have been involved

You will be directed to a claims adjustor, or one will contact you. The more information and pictures you can provide the claims adjustor during the initial contact, the quicker they will be able to process the claim.

AmFam understands how difficult and inconvenient it can be to be without a home or without your personal belongings and will do everything possible to reimburse you as quickly as possible.

Of Special Interest

American Family renters insurance for college students offers many special benefits for college students and is committed to offering the best possible coverage.

The loss of use coverage, which is very valuable if the student has to live elsewhere temporarily, is also offered in three sizes:

Economy – $4,500
Traditional – $7,500
Premier – $20,000

In addition to the basic renter’s insurance, American Family also offers additional coverage that can be purchased as add-ons to the renter’s policy.

Personal injury coverage – provides additional coverage for things like wrongful eviction, false arrest, slander, or libel.
Pet insurance – This pays up to $1,000 of vet bills for a covered pet.
Jewelry and fur coverage – This offers additional coverage on these high-valued items.
Home business coverage – This offers liability and property insurance if the student runs a business out of his or her rental.
Travel protection – This provides global medical insurance and trip cancellation coverage.
Equipment breakdown – This coverage protects your appliances, electronics, and smart devices in case they break down due to electrical or mechanical failures.

They also offer other coverage add-ons, like exotic animal and dangerous dog liability, building alterations and additions, loss assessments, fire department services, pollutant removal, and bacteria removal, among others. These additional coverages will pay up to a certain dollar amount per claim. For instance, they’ll pay up to $500 for electrical appliances, up to $2,500 on jewelry, and $500 for fire department services with a traditional policy. Some of the additional coverages are not offered with the economy package.

Most students and customers doing an American Family renters insurance review state that American Family renters insurance is very affordable, especially considering all the coverage it provides. American Family’s customer service is also rated very highly with students and customers. They have an A rating with the Better Business Bureau.

Final Thoughts

After completing an American Family renters insurance review, customers are usually able to spot the company’s best points and their worst points. Get a few quotes, and look at where you get coverage, and then get a policy to ensure your belongings are covered to the max in college.

Annie Johnson

Annie Johnson is a licensed insurance broker, specializing in auto, home and renters insurance products. She reviews insurance content on College Educated for accuracy and has a particular passion for making sure that college students and recent graduates have proper insurance coverage. Her latest passion includes researching all forms of business insurance, to ensure that recent college grads who look to entrepreneurship can have the right protection.

American Family Renters Insurance for College Students