Renters Insurance: Protecting Yourself and Your Belongings

College is an exciting time, filled with new experiences, newfound independence, and the chance to create lasting memories with friends. However, it also comes with added responsibility and sometimes unexpected challenges. With that in mind, it’s important to understand how to best protect yourself when the unexpected happens. 


At SAMI, we have always strongly recommended that our tenants obtain renters insurance when they sign a lease with us as a way to ensure the safety of their belongings. Now, starting with all apartments signed for the ‘24-25 school year, it will be a requirement in the SAMI lease. To help answer questions you may have, we’re diving into what renters insurance is, why it’s essential, and how you can benefit from it! 


Renters Insurance: Your Safety Net

Simply put, renters insurance serves as a safety net to safeguard your belongings from unforeseen events such as theft, accidents, or other property damage. College life and apartment living can be unpredictable, but having this insurance helps you bounce back faster when the unexpected occurs. A few key benefits from renters insurance include: 


Protection for Your Belongings

Whether it’s your laptop, furniture, or other personal items, renters insurance ensures that you can recover the cost of replacing or repairing your possessions in cases of theft, fire, water damage, or other covered incidents. College is expensive – don't let accidents drain your savings!


Liability Coverage

Renters insurance not only protects your stuff, but can also shield you from potential liability claims. If you accidentally cause damage to your apartment, such as a kitchen fire or a burst pipe, renters insurance can take on the burden of those repairs. It can also help shield you in cases of injury to visitors in your home by taking on medical and legal costs when applicable. 


Peace of Mind

College is stressful enough – knowing that you have financial protection for your belongings and potential liabilities helps take on some of that stress. This peace of mind allows you to focus on your studies and enjoy your college experience without the worry of the unexpected. 


Renters Insurance Through SAMI

With renters insurance now a requirement for SAMI leases, we have created a way to make obtaining it simple and affordable for our tenants. Here’s what you should know about having your renters insurance through us: 


The Policy

SAMI has partnered with LeaseTerm Solutions to offer their AssetProtect services as our in-house renters insurance option. This coverage includes protection for both personal property damage and liability, and can be paid directly through your Tenant Portal


Coverage Details

With AssetProtect, you’re provided with coverage of up to $10,000 for personal property damage and up to $100,000 for damage you may accidentally cause to your apartment. 


Low-Cost Premium

The cost to add this coverage to your lease is just $13 per month! Our goal was to make it easy and affordable to protect yourself and your belongings. 


Convenient Payment

If you choose to use SAMI’s renters insurance, the $13 monthly premium will be added as a charge to your Tenant Portal, alongside your rent and utilities. This makes it simple to manage all your student housing-related expenses in one place.  


Opting Out of SAMI’s Insurance

While having renters insurance is a requirement on our leases, it does not have to be the insurance we provide. If you prefer to obtain your renters insurance through another company or have the option to add a rider to your parent/guardian’s policy, we understand! You’ll just need to opt out of our program by providing proof of that external policy. 


Instructions on how to submit this proof of policy can be found here. By following this step by step process, you can ensure that all your bases are covered for your lease! 


Renters insurance is an essential component to responsible living – it's not just about protecting your belongings; it’s about protecting your peace of mind. At SAMI, we’re committed to helping you navigate the ins and outs of renting, and that includes making it easy and affordable for you to secure the coverage you need! Whether you choose SAMI’s renters insurance or opt for your own, having this safety net in place ensures that you can focus on your college journey without the worry of unexpected mishaps. 


Take control of your college experience and protect what matters most with renters insurance. If you have questions or need further information, don’t hesitate to reach out to our team! We’re here to support you in every step of your student housing experience.