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    Differences between Student Tenant and Tenant Insurance

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    student vs tenant insurance canada

    Wondering what the difference is between student tenant insurance and tenant insurance? Read our article to find out.

    With all the things on a new university student’s to do list, getting the proper insurance coverage is among the most important. But rather than paying for a tenant insurance policy, we’ve created a special student tenant insurance coverage that’s designed to suit the unique needs that university students face. But there are important differences between the two that should be carefully considered before making a decision. In this blog post, we’ll be taking a closer look at some of the main differences between standard and student tenant insurance so that you can make an informed decision when it comes to protecting your assets.

    Related Read: 3 Reasons to Get Student Tenant’s Insurance for Your Kids

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    Coverages Provided by Standard Tenant Insurance

    Tenant insurance provides numerous coverages that help protect renters from financial loss due to unexpected events. Coverages typically included in tenant insurance policies are:

    • Liability coverage

    • Property coverage

      • Helps protect your personal belongings against theft or damage caused by common perils such as fire, smoke, wind, hail, water damage, and explosion.

    • Additional living expenses coverage

      • Provides compensation for the added costs of temporary housing if you can’t live in your current rental unit due to a covered peril.

    Tenant insurance helps provide financial protection in the face of unexpected events. All of these coverages work together to help protect you financially if disaster strikes.

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    Considerations for Student Tenants

    Students often have different insurance needs than regular tenants, as their situation is often more transient. Many students need short-term rentals that don’t require a long-term commitment, which can make standard tenant insurance policies difficult to utilize.Furthermore, student renters usually carry personal electronics and other valuables with them, so it may be necessary to look into additional coverage for these items. Student tenant insurance offers policies specifically designed to meet the needs of student renters and provide protection from common hazards and liabilities associated with being a student renter.

    Differences Between Student Tenant Insurance and Tenant Insurance

    APOLLO’s student tenant insurance provides a cheaper option for students looking to protect their belongings. Here are some of the main differences between the two insurance coverage options:

    • Flexible term limits. At APOLLO, we know that you may only be living in residence for a semester at a time, so we’ve created this product with flexible term limits. That way, you’re only paying for the coverage you need for the times you need it.

    • Set product amounts. We know that students probably don’t need the same coverages as someone living in a long term rental, so we’ve tailored these policies to your unique needs.

    • Cheaper Policies. Removing unnecessary policies and providing shorter term limits allows us to reduce the price of our student tenant insurance policies.

    Get Tenant Insurance in less than a minute

    Get no-nonsense coverage that's the best value for your money. Purchase policies from your computer or phone, receive your documents instantly, and save when you buy online.

    Costs and Exclusions

    Tenant and student tenant insurance policies both provide coverage for tenants who rent their home or apartment, but there are differences in terms of what is covered and the associated costs. When it comes to costs, student tenant insurance is more affordable than traditional tenant insurance. It also provides protection from issues that are not typically covered by tenants’ policies such as damage caused by roommates, liability for guests, and personal items stolen from cars. Exclusions vary significantly between the two types of policies. Tenant policies may exclude flood damage, acts of nature, and deaths due to criminal activity on the property.

    How to Choose the Right Policy for You

    When selecting a tenant policy, the main factor to consider is whether or not the coverage meets your needs. Tenant and student tenant insurance policies both provide essential protection for renters, but they offer different levels of coverage and exclusions. It’s important to research both types of policies and understand what is covered before making a purchase. Additionally, you should compare costs between policies to find the best deal available. Before making a final decision, read through all of the terms in the policy thoroughly and ask any questions you may have about coverage or exclusions. Understanding your needs, budget and risk tolerance can help you make an informed decision on which type of tenant policy will be right for you.

    Get comprehensive Tenant Insurance for what matters

    Get no-nonsense coverage that's the best value for your money. Purchase in less than a minute, receive your policy instantly, and save when you buy online.

    Why It’s Important to Have Insurance

    Insurance is an important part of protecting yourself and your property. Without it, individuals are left to face the financial consequences of medical treatments, property damage, and lost or stolen items. Insurance can provide peace of mind knowing that you will be able to recover from any unexpected losses without having to pay out-of-pocket for the entire cost. Furthermore, insurance can also offer coverage for liability claims in case someone is injured on your property or if damage is caused by you or your property.

    APOLLO Insurance offers affordable student tenant insurance for university students, and tenant insurance for those renting an apartment or condo. Get a free quote in less than a minute and have your policy documents uploaded directly to your inbox today.

    Get Tenant Insurance in less than a minute

    Get no-nonsense coverage that's the best value for your money. Purchase policies from your computer or phone, receive your documents instantly, and save when you buy online.

    Originally published March 17, 2023, updated October 10, 2023

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    Get Tenant Insurance in less than a minute

    Get no-nonsense coverage that's the best value for your money. Purchase policies from your computer or phone, receive your documents instantly, and save when you buy online.

    Get Tenant Insurance in less than a minute

    Get no-nonsense coverage that's the best value for your money. Purchase policies from your computer or phone, receive your documents instantly, and save when you buy online.

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