Gallagher Student is an insurance company specializing in insurance products for students. Its coverage options include personal property insurance, or dorm insurance.

If you're like most college students, money is tight, which is why its critical that your personal property is protected from theft or damage.

Unfortunately, your parents homeowners policy isn't likely to cover your dorm room contents while you're away at school. That's where Gallagher comes in. In this full review, we explain how its dorm room renters insurance works, and compare it to other similar policies from other insurers.

What Is Gallagher?

Gallagher Student Health and Special Risk is a Massachusetts-based insurance company offering insurance policies to university, college, and secondary school students across the U.S. In addition to various health and sports accident policies, Gallagher offers student personal property insurance, also known as dorm insurance.

Gallagher Student's property insurance policies are underwritten by Allianz Global Corporate & Specialty (AGCS). Its parent company, Allianz SE, is a leading property and casualty insurer worldwide and has an A+ A.M Best rating for financial stability.

What Does It Offer?

Gallagher Student offers insurance policies for students, including tuition, international student and scholar, study abroad, dental, vision, and leisure travel insurance, and various assistance services. For the purpose of this review, we're exploring its dorm insurance policies, which is called Student Personal Property Insurance.

Student Personal Property Insurance

College and university students, along with school faculty and staff, are eligible for Gallagher's dorm insurance coverage, which is designed to protect personal and university property while in possession of the insured. Coverage is for theft and burglary, and damage due to the following: Accidental damage, water, fire, electrical damage, earthquake, or vandalism.

Gallagher Personal Property Insurance covers many items, but here are some common protected belongings:

• Books
• Clothing
• Computers
• Tablets and MP3 players
• Cell phones
• Other electronic items
• Bicycles

Gallagher offers replacement cost coverage. This means that if you experience a covered loss, Gallagher will pay the actual cost to repair or replace the property. You don't have to live in a college dormitory to qualify for coverage. If you live at home or at an apartment off-campus, you are still protected.

Plan Benefits

Gallagher's dorm insurance includes the following key features:

Low deductibles: Gallagher policies have deductibles as low as $25, have lower than traditional homeowners or renters insurance policies, which can be as high as $500 or $1000.

Attractive pricing: According to Gallagher, the average premium costs less than $.35 per day over 365 days. That's less than $130 annually, or approximately $10 monthly.

Worldwide coverage: Students can travel anywhere in the world and still be covered 365 days per year, regardless of where they travel.

Full 12 month policy period: Gallagher's personal property coverage is available for a full 365 days, and is not limited to the school year.

30 day money back guarantee: If you are unsatisfied with your policy for any reason, you can cancel within 30 days and get your money back.

Free identity theft coverage: Included in Gallagher's Personal Property policy is $5,000 of Identity Theft Expense coverage at no additional cost.

Policy Exclusions

The following items are not covered under Gallagher's personal property insurance policy:

• Loss or damage to financial documents
• Any land, air, or water motorized or electric vehicle or accessories
• Property stolen that was left in an unlocked private vehicle
• Contraband property
• Animals, birds, or fish
• Firearms or ammunition
• Bulbs, lamps, or other items made primarily of glass

Are There Any Fees?

Gallagher does not charge any set up fees. However, as with any insurance policy, you will be required to pay a premium, as well as a deductible, in the event you have an approved claim. As mentioned, Gallagher's deductibles are much lower than most homeowner policies, which can be as much as $500 or $1000.

How Does Gallagher Compare?

GradGuard may offer the closest alternative to Gallagher's personal property insurance coverage. Average premiums for it's renters insurance for students ($5000 coverage) is only slightly higher than Gallagher's, at $154 per year, and it includes liability coverage (only available as an add-on with Gallagher). However, GradGuard's lowest deductible is $100, 4x higher than Gallagher's $25 deductible option.

Allstate is one of the largest insurance companies in the U.S. It offers many types of insurance, but is well known for its homeowners and auto insurance policies. While you can get renters insurance for as little as $4/month if you bundle it with an auto insurance policy, its standalone coverage is pricier than both Gallagher and GradGuard. And its deductibles are higher, too.

How Do I Open An Account?

You can apply for a policy anytime from Gallagher's website and receive an instant quote. There is no credit or background check required, but you will need to provide your education details, including your school and the state where it's located, and your year of study, i.e. freshman, sophomore, etc. Premiums can vary depending on where you attend school.

Is It Safe And Secure?

As a long standing insurer, you can be confident that the information you provide Gallagher Student is safe and secure. When obtaining a quote, they do not ask you to provide highly confidential information, such as a SSN or any account numbers. Insurance policies are underwritten by Allianz Global Corporate & Specialty (AGCS), a subsidiary of one of the world's largest insurance companies.

Contact

You can contact Gallagher Student by phone during office hours, which are 8:30 Am to 5 PM Monday through Friday. Their phone number is (888)411-4911, and fax number is (678)832-4910.

Is It Worth It?

While researching this article, I obtained quotes for a $5,000 personal property policy with a low $25 deductible from schools in several different states, and was offered a premium of $146.00 annually. This did not include the add-on liability coverage option. Considering the low rates and deductibles, combined with its excellent TrustPilot rating of 4.6 out of 5 stars, Gallagher is well worth the price when compared to standard renters or homeowners insurance policies.

Imagine having your iPhone, laptop, or damaged or stolen during a busy semester. Having to cover those costs yourself could place a significant strain on your finances. Instead, you could purchase peace of mind for just over $10 per month.

Check out Gallagher here >>

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