Tenant insurance and subletting: what you need to know for the summer


This article is brought to you by GradGuard. We protect students and their families from the financial risks of college life, like paying tuition fees or replacing a stolen backpack when your school can’t. When the unexpected happens, GradGuard’s tuition insurance and renters insurance can help get you back on track.

With summer fast approaching, so is moving season, with more tenants moving in and out of their apartments. Whether it’s due to the end of the spring semester or the start of an out-of-town internship, students and others are looking for temporary or permanent housing as the spring season moves on. summer. As a student, subletting an apartment can be a great way to temporarily stay out of town when you need to be somewhere else, such as for a job, school opportunity, family, etc.

Subletting an apartment can save you from having to look for permanent accommodation and give you the freedom to be away for personal reasons. But what if something goes wrong?

When you’re in a stranger’s home, your mind can be plagued with assumptions, leaving you paranoid and just as curious about what protections you have and don’t have with renters insurance. If you’re considering subletting an apartment but aren’t sure how to do it, and more importantly, if renters insurance is worth it, read on for some valuable tips and tricks!

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What is subletting?

Subletting in simple terms is when you, the tenant, rent part of your apartment (like a bedroom) or the whole unit to someone else to fulfill your lease obligations when you cannot. or don’t want to live there temporarily. Craig Berman of Sapling.com writing with regards to subletting, “done correctly, it saves you from paying rent for unused space or incurring the penalty amount for early breach of lease. It could also allow you to regain your rights to occupy the property once the sublease period is over.

What is tenant insurance?

Renters insurance, also known as renters insurance, is a type of protection for renters of houses or apartments that can cover personal effects in the event of an unforeseen event, such as a break-in or theft. Although landlords have insurance for their building and the units they own in it, this insurance is generally restrictive and does not cover your individual expenses in the event of a bad situation. Renters insurance, on the other hand, is specifically designed to protect all of your belongings. GradGuarda leader in insurance for students, has a comprehensive insurance policy for renters, which includes coverage for clothing, computers, textbooks, bicycles, game consoles and cell phones.

Is renters insurance worth it when subletting?

As stated earlier, renters insurance is a great option when you want extra protection for your personal and expensive belongings. When you sublet an apartment over the summer, you don’t know what kind of people you’ll meet along the way, whether it’s a roommate or your fleeting landlord. In this case, having your belongings insured can give you peace of mind knowing that you can replace anything that is stolen or damaged, no matter the situation. And of course, your subtenant must also have tenant insurance to cover themselves and their belongings.

However, renters insurance doesn’t just protect your personal belongings. According to TruState, “Your renter’s insurance also helps cover costs if someone is injured during your visit. Additionally, renters insurance often helps pay for a hotel room if you need to move temporarily due to an event such as a fire. In this case, a tenant’s insurance policy can be beneficial to you when subletting an apartment.

Tips and tricks for subletting

  1. When subletting, there is always a risk of being robbed. While you may be able to remove some of your most valuable items from your home or put locks on certain prohibited items, the majority of your belongings will likely be accessible to your sub. If that sounds like something you’re not willing to risk, subletting might not be for you.

  2. Ask your family, friends, classmates or acquaintances if they are interested or know someone who would be interested in subletting their apartment this summer. The right person may just be a text or a phone call away!

  3. Getting photos ahead of time gives you a clear idea of ​​what your place looked like before you moved in, which can make it easier to spot potential damage and stolen items.

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By subletting your apartment for the summer, you will be able to do what you want/need during the summer, while helping someone who needs to rent their apartment to earn a few extra dollars for the next two months. Either way, it’s a win-win situation!

Although it’s not necessary, getting tenant’s insurance in the process will save you from having to replace broken or stolen items, while giving you peace of mind that your belongings are protected. With GradGuardyou can get a free online quote in minutes to determine the level of protection you need and select the best policy for you.

In the future, who knows, maybe based on this experience you will want to be on the other side of the business and potentially sublet in the future.

It’s no secret that college is very expensive. Make sure your investment in higher education is protected with GradGuard. Our affordable tuition insurance and renters insurance the plans are specially designed for students. Customizable plans make it easy to protect your tuition, room and board, laptop, bike, and more.


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