1. Insurance Basics for Students
Renters Insurance
Insurance Basics
for Students
Renters Insurance - Ohio Insurance Institute -

2. Renters Insurance A “package” policy Types of homeowners policies
Your insurance needs
Shopping for insurance
Insurance premiums
Cost saving tips
Tips for settling insurance claims
Renters Insurance - Ohio Insurance Institute -

3. Renters Insurance A “package” policy Personal belongings
Liability coverage
Medical payments to others
Damage to property of others
Additional living expenses
Buildings & structures (with a homeowners policy)
Renters Insurance - Ohio Insurance Institute -

4. Renters Insurance Types of homeowners policies Renter Condo Owner
Covers belongings and provides liability coverage
Condo Owner
Covers belongings, some improvements to interior walls and provides liability coverage
Home Owner
Covers belongings, the building and structures and provides liability coverage
Renters Insurance - Ohio Insurance Institute -

5. Your Insurance Needs Shopping for insurance Insurance premiums
Agent, internet
Have agent/company representative explain what’s NOT COVERED in the policy - this avoids surprises after a loss
Many prefer to investigate coverage options and prices via the web, then contact an agent or company
Evaluate your need for an agent - is it important to you to have an insurance professional for advice?
Insurance premiums
Paid monthly, quarterly, semiannually, or yearly
Homeowners - watch for PITI in your mortgage
Principal, Interest, Taxes, Insurance
Renters Insurance - Ohio Insurance Institute -

6. Your Insurance Needs Insurance cost saving tips Ask about discounts
Good student, more than one car, carrying other types of insurance with the same company
Increase deductibles
Generally, the higher the deductible, the lower the premium
Avoid filing frivolous and/or excessive claims
Comparison shop
Keep property (car and home) well maintained
Use credit wisely and only as needed
Renters Insurance - Ohio Insurance Institute -

7. Your Insurance Needs Settling an insurance claim
Contact insurance agent/company ASAP
Take steps to prevent future losses to property
Gather as much info as possible about the loss
witnesses, videotape/photo damaged property
An insurance company representative will contact you (claims adjuster) asking details about the loss
Adjuster may want to record your conversation
Work with adjuster to an agreeable negotiation
If not satisfied, you have the option to contact Ohio Dept. of Insurance - Consumer Services Division - for info or to file a complaint (
Renters Insurance - Ohio Insurance Institute -

8. Resources
Renters Insurance Teen Guide:
Renters/Homeowners Insurance and Insurance Consumer Tips Fact Pak brochures:

9. OII Mission Statement
To strengthen public understanding of and confidence in Ohio’s property/casualty insurance industry.
The OII is a public information and trade association representing insurance companies and agent groups for the property/casualty insurance industry. A primary objective of the OII is to help Ohioans achieve a better understanding of insurance and related safety issues.
Renters Insurance - Ohio Insurance Institute -

10. How to reach OII
Phone:
US Mail:
OHIO INSURANCE INSTITUTE
172 E. State Street, Suite 201
Columbus, OH
Renters Insurance - Ohio Insurance Institute -