Like the majority of colleges and universities, MSU does not pay for stolen or damaged student property. Students living on campus in residence halls assume financial responsibility before being made aware of GradGuard, with the option to purchase a policy.
Montana State is one of GradGuard’s top Renters Insurance partners, with the number of students who are protected more than tripling in three years.
Like most freshmen, Wyatt lived on campus in the residence halls his first year at Montana State. He purchased a GradGuard Renters Insurance policy to protect his stuff he had at school with him. With GradGuard, covered students have both personal property and liability protection in the event their stuff is stolen, or there is unintentional damage to their residence.
Wyatt says he used to race mountain bikes and didn’t want to think about needing to replace them if they were stolen, since they were expensive. Relying on a parent’s homeowners insurance isn’t always reliable; there are terms and limitations that often apply and filing a claim could increase the already high deductible. “It was the logical option, instead of going with the policy my parents have,” Wyatt said. “It was just easier to get a renters policy within the dorms that way. I decided to get a renters insurance policy and I’m glad I bought it.”
GradGuard’s Renters Insurance features an exclusive student endorsement with features not found in other policies.
- Low Deductible: GradGuard’s standard deductible offer is $100 and only applies to personal property coverage.
- No Credit Scoring: No credit score? No problem. Everyone on campus receives the same price, no matter your credit history.
- Worldwide Property Coverage: Your belongings, including rented property, can be protected from covered perils anywhere in the world.
- Personal Liability Coverage: If you unintentionally damage your place of residence, GradGuard can help.
It wasn’t long before Wyatt put his renters insurance policy to good use. His bike was stolen during the fall 2019 semester.
“I made the mistake of keeping it outside, even though it was still locked up,” Wyatt said. “Someone took bolt cutters to the lock and made off with my bike.”
Wyatt said he immediately contacted the police to file a police report and held off on filing a claim right away in hopes the bike would turn up. After a few days, there was no update on the bike so he contacted GradGuard to file a claim.
Losing something, especially your bike, can be stressful. But filing a claim with GradGuard isn’t; Wyatt said the process was straightforward and easy. He says the claim adjusters at Markel, the underwriters for GradGuard’s Renters Insurance, were very responsive and walked him through the process of what information and documentation were needed to expedite his claim. Wyatt was then reimbursed the replacement cost of his stolen bike.
“After I got the insurance money to get the new bike, he was able to walk me through that process as well,” Wyatt said. “It was really smooth!”
Since then, Wyatt has moved off campus as he continued his studies at Montana State. He’s able to keep his bike inside his apartment now, but recommends GradGuard to other students living on or off campus.
“The process to get the insurance in the first place was very simple,” he said. “It was very affordable too. You might as well do it. There’s no reason to skip out on having insurance on something, if it gets lost it’s really going to hurt.”