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Homeowner vs Personal Property

From National Student Services

• Deductibles: A homeowner's policy has a higher deductible, typically starting at $500 or $1,000. Our policy has deductibles as low as $25, $50 or $100.
• Price: A homeowner's policy costs more than our Personal Property Policy. You can purchase a policy from us for as little as $3/month.
• Coverage: A homeowner's policy typically covers a single location or limits coverage of property away from the principal residence to 10% of the property limit on the parent's policy. Our policy gives the student Worldwide coverage whether they are living at home, on/off campus or traveling/studying abroad. Items in storage are covered, as well.
• Premiums: Typically, when you make a claim on your homeowner's policy, this triggers the premium to escalate during the next policy period. For the first time in 15 years we have reduced some of our rates while not reducing coverage.
• Proof of Ownership: Homeowner's policies require that you schedule personal property to be covered. We do not require that you schedule items. We just ask that you keep some proof of ownership. This can be in the form of pictures, receipts, credit card statements, owner's manuals, serial numbers, the original box, etc.
• Items Covered: We cover items against theft, fire, flood, natural disasters and accidental damage. If a student drops their laptop or spills something on it... that is a covered item.
• Reporting: Some homeowner's policies report the loss to a credit agency. We do not report to any credit agencies.
• Flood: Most homeowner's policies do not cover losses due to flood or earthquake. Our policy will cover those losses.