GradGuard Off-Campus

Off-Campus Renters Insurance

GradGuard Off-Campus is an integrated service that provides flexible and profitable protection for residents housing operators nationwide.

Trust The Leader In Resident Housing Protection

Only GradGuard Off-Campus Offers:

Exclusive resident endorsement with property protection for housing operators, owners and residents.

Attractive fee income opportunity.

Confidence of more than 100 colleges and universities who rely on us to protect their college residents.

“Residents can’t often pay for the damages they cause or afford to replace stolen property, as a result we recommend that college families encourage their students to purchase renters insurance while living both on and off-campus”

- College Parents of America

The Risks Are Real - The Need Is Large

Industry Trends Support Providing Greater Resident Protection

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On-Campus Property Crimes

2015 FBI data reports 69,502 property crimes on college campuses.

- Clery Act Reports, 2015

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On-Campus Fires

2016 Clery Act data reported 2,044 fires within on-campus student housing.

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84 %

Require Renters Insurance

84% of apartment companies say they require residents to buy renter’s insurance.

- Apartment Cost Risk Survey / National Multifamily Housing Council

Benefits for Residents

For insured residents, the property coverage is unique as it provides flexible coverage limits, a low deductible, and replacement cost reimbursement.

Our exclusive “Resident Endorsement” increases coverage on personal electronics and offers worldwide coverage.

World Wide Property Coverage

Up to 100% of property limits, whether resident is at home, on campus, or abroad.

Replacement Cost Reimbursement

Reimburses the full cost of a new, comparable item in the event of a loss.

No Limitation on Electronics

No coverage limitation applied to personal computers, phones or tablets, making sure the items most important to your residents are completely covered.

Loss of Use

If a resident’s insured address is uninhabitable due to a covered peril, will pay additional living expenses for up to two weeks and up to 20% of the resident’s property coverage limit.

“89% of respondents agree that GradGuard Off-Campus was a positive and relevant feature of living off-campus”

- 2016 Survey of GradGuard College Renters Insurance Customers

Benefits for Housing Companies

Working with the resident population requires unique insight and concern. The resident population is frequently unaware of standard resident liability and also unprepared to pay for damages that they may be found responsible for.

As a result, we work with residents to address these unique needs in how we implement the program to enhance your leasing process.

Provide Clarity

Our implementation process typically requires that each resident clearly understands and acknowledges their responsibilities while living in the residence. The statement also clarifies that the landlord is not responsible for the financial losses experienced by a resident.

Reduce Management Effort

Receive payment directly from the insurance company for covered losses instead of spending time requesting payments from individual tenants for damages at the conclusion of the lease.

New Fee Income & Revenue Generation

For properties that mandate their residents maintain $100,000 of personal liability coverage as part of the tenant’s insurance policy, we will structure attractive opportunities for property managers to produce new fee income.

Transfer Risk

Our program shifts the financial burden of uncollected receivables for property damage onto the insurance carrier of the resident. For the property owner, the liability protection provides coverage in the event an insured resident is found legally liable for property damage or bodily injury to others in the tenant’s residence. This reduces potential commercial insurance claims as well as reducing the collections burden for damages at the end of the lease.

Free Resident Amenity

By implementing our program, your residents are eligible for the unique coverage features contained within our “Resident Endorsement” insurance policy. Unlike other renters insurance programs, all of your residents will be eligible regardless of their credit or insurance loss history.

Comprehensive and Relevant

Coverage for Your Residents

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Property Coverage

Worldwide coverage on personal belongings such as electronics, computers, books, clothing and more.

Protection against fire, theft, vandalism, and other causes of loss.

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Loss of Use Coverage

Provides temporary housing to students if they are displaced from their residence hall, apartment, etc. due to a covered loss.

Provides up to 20% of property coverage.

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Personal Liability Coverage

Protects students financially for unintentional property damage to their residence or bodily injury for which they are legally liable.

Case Study

The Problem

A leading student housing provider in the Midwest was struggling with rising damage losses.

This particular property owner and manager housed approximately 2,700 students, and was located in close proximity to a major University.

The residents were a mix of undergraduate and graduate students. When damage or loss occurred, it was a lengthy and time consuming collection process which often resulted in a financial loss for the property owner.

The Solution

The property managers were looking for a way to remove themselves from the collections process while also ensuring they were paid for any outstanding damages. Renters Insurance emerged as the most appropriate solution as a risk transfer strategy.

GradGuard, the existing leading provider of on-campus renters insurance for college students, worked with the off-campus building manager to design a unique process that met their needs. Rather than provide a flyer with a mere suggestion, residents were given the option to add a monthly cost of renters insurance to their lease payment.

This model simplified enrollment and increased participation amongst all residents. The resident had the option to deny the housing provider’s preferred coverage (via an opt-out email); however; each resident was notified that they were still responsible for obtaining and demonstrating that a renters insurance policy was in force.

The Results

81% of residents chose protection, providing an additional $120 million of resident liability protection to the housing operator and owner, producing attractive fee income and sponsorship revenue.

“84% of apartment companies say they require residents to buy renters insurance”

- Apartment Cost Risk Survey by the National Multifamily Housing Council

Integrating Our Technology With Yours

Our technology integrates easily with your existing leasing process at no cost to you.

Our Application Program Interface, also known as an API, makes it easy to include our renters insurance enrollment process within your software platform or electronic leasing process.

Good for Property Management Companies

We work directly with property management companies of all sizes. Our integration provides full control over how information is collected from your residents and enables each to acknowledge their liability while voluntarily purchasing renters insurance.

Good for Housing Software Companies

We work directly with leading housing software companies to provide access to our API so it can be integrated within your existing technology platform. All housing operators can now have access to our market-leading & exclusive “Resident Endorsement” renters insurance program.

All residents deserve the affordable and relevant protections provided by the exclusive "Resident Endorsement" contained in our Off-Campus Renters Insurance Program.

Contact Us Today