A good place to start is to calculate the total replacement value of everything you own. You may have more than you think — and the goal is to make sure your coverage limit reflects what it would actually cost to replace your belongings if something happened.
What to include in your estimate
Walk through your living space and think about the value of everything you'd need to replace:
- Electronics — laptop, smartphone, tablet, headphones, gaming console
- Clothing and shoes — including outerwear, athletic gear, and formal wear
- Furniture — if you're furnishing your own apartment or off-campus housing
- Appliances — mini fridge, microwave, coffee maker
- Bikes, skateboards, and boards — non-motorized transport is covered as personal property
- Sports equipment and musical instruments
- Books, textbooks, and school supplies
Add up the replacement cost — not the original purchase price — of each category. That total gives you a baseline for the coverage limit you should select.
What about liability coverage?
In addition to personal property coverage, you'll also need to choose a liability coverage limit. Liability protects you financially if you're found legally responsible for accidental damage to your residence or bodily injury to another person.
Available liability limits are:
- $25,000
- $50,000
- $100,000
- $300,000
If you're living on campus, the suggested amount is pre-filled during the quote process based on your school. If you're living off campus, check with your landlord or property management company — many require a specific liability minimum as a condition of your lease.
For more detail on liability coverage, see our liability coverage FAQ.
What deductible should I choose?
Your deductible is the amount deducted from your claim payment. GradGuard offers deductibles as low as $100 — lower than most standard renters insurance policies. A lower deductible means a higher premium, and vice versa. Choose the amount you could comfortably cover out of pocket in the event of a claim.
See our deductible FAQ for a full explanation of how deductibles work.
The renters insurance is underwritten by Markel American Insurance Company (NAIC #28932) or Markel Insurance Company (Florida only) (NAIC #38970), 4521 Highwoods Parkway, Glen Allen, VA 23060. Policyholder services are provided by Next Generation Insurance Group, LLC. Insurance and coverage are subject to availability and qualifications and may not be available in all states. Terms and conditions for rates and coverages varies. All insurance products are governed by the terms, conditions, limitations, and exclusions set forth in the applicable insurance policy. Please see a copy of your policy for the full terms, conditions, and exclusions. Any information on the site does not in any way alter, supplement, or amend the terms, conditions, limitations, or exclusions of the applicable insurance policy and is intended only as a brief summary of such insurance products.