Do I Need Renters Insurance in College?

renter-insurance-in-college

Updated: July 2016

When you’re packing for college, you may be thinking about your class schedule and late night pizzas with friends. Someone making off with your laptop or a dorm fire are probably not what you’re envisioning about the campus experience. But since you may be bringing some expensive stuff with you — a television, speakers, clothing and a smartphone — it’s a good idea to make sure these things are protected before you leave home, just in case.

Whether you’re living in the dorm or an off-campus apartment, it’s important to have coverage for all those things that help you keep up with classes and make your living space feel like home. How to help protect your stuff, though, typically depends on where you’re living.

Dorm Life

If you’re living in a dorm or other campus housing, your belongings may be covered under your parents’ homeowners or renters insurance policy. You’ll want to check with your agent to make sure, but the National Association of Insurance Commissioners (NAIC) says that students who are younger than 26 and living on campus may be covered through their parents’ policy.

It can be a good idea to know the policy’s coverage limits for personal property. The Insurance Information Institute(III) says some policies limit coverage for belongings while they are away from the policyholder’s home. This is often referred to as “off-premises coverage.” For example, if your parents’ policy provides $100,000 worth of coverage for belongings, but limits that coverage to 10 percent for items that are off-premises, it may provide up to $10,000 for items away from their home, including belongings you bring to school.

It’s also important to note that certain items, such as a laptop, may have coverage limits. If the policy’s limits aren’t enough to cover the items you’ll be bringing to school, the III says your parents may be able to add scheduled personal property coverage, sometimes referred to as a “floater,” to their homeowners or renters insurance policy to help cover certain valuable possessions.

Off-Campus Housing

If you’ll be living in off-campus housing, the III cautions that your parents’ insurance will probably not extend to any belongings you bring with you (although you’ll want to check with your agent to be certain). Your own renters insurance policy may be a good way to help protect your belongings should they be stolen or damaged by a covered loss. (Covered events are often described as “perils” in insurance terms. Read your policy to learn what risks it may cover, such as theft or fire.)

A renters policy will also likely provide liability coverage, which may help prevent you from paying out of pocket if you are found legally responsible for someone else’s injuries or accidental damage to their property (including your landlord’s).

The III recommends asking your agent about coverage limits, as well as whether you may benefit from additional coverage for certain valuables.

Hopefully you and your stuff stay safe and sound while you’re running to and from classes, but it may be a good idea to keep a home inventory — it can be a big help if you ever need to file a claim. Knowing you have coverage for your stuff can bring some peace of mind and help you focus on a great college experience.

Article courtesy of: http://www.allstate.com

 

Citizens Relay for Life Team raises $20,699.50

team crop

Citizens Bank Minnesota’s Relay for Life Team was hard at work throughout the past year raising money for the fight against cancer right here in Brown County. Through a variety of fundraisers, including potlucks, a 5K walk/run, a crafters’ retreat, an employee Silent Auction and donations from friends and family, the Citizens team continues to contribute sizable donations to the American Cancer Society every year. This year we raised $20,699.50, putting us in first place in the county. Citizens has been part of Relay for 21 years, with total contributions at $219,546.22.
The money raised through Relay events helps with education, prevention, treatment, and support for all cancer survivors and patients. A large portion of the money raised in Brown County stays in Brown County, helping our neighbors and friends when they need it most. At our local Relay event, we celebrate all cancer survivors, remember loved ones lost and learn how each of us can do more to fight back against this dreaded disease.
If cancer could be cured by energy, commitment and determination, we’d be done with it and no one would ever have to fear this disease again!

By: Barb Marti, Receptionist/Administrative Assistant

Citizens Employees do 37 Random Acts of Kindness at Bavarian Blast

Bavarian Blat RAK's

Some Citizens employees had a ‘blast’ at Bavarian Blast in New Ulm on Thursday, July 14, 2016! They attended the “Fabulous Armadillos” concert at the festival and surprised quite a few concert attendees by doing 37 Random Acts of Kindness!

Acts included buying beverages, corn dogs and bags of kettle corn! Our employees had some great experiences – when a few people in line at the kettle corn booth heard what one employee was doing, they chipped in a few of their food tokens too, and the business owner donated a bag also! One younger teen hugged his bag of kettle corn after receiving it and his mom said that we had just made his night.

Random Acts of Kindness can be done by anyone, anytime and anywhere. You never know the impact you’ll make on someone, so take the time to do one today! The simplest gesture can mean the most!

2016 Citizens Race 2 Raise 5K

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Citizens Bank Minnesota’s Relay for Life team held their 2nd Annual Race 2 Raise 5K fundraiser on Saturday, June 11, 2016.  127 participants came to run and walk the 5K route, which started at Citizens, continued south on Minnesota Street to 16th South, then back along the bike trail, ending at German Park.  The 5K was professionally chip-timed and there were medals awarded to the top 3 males and top 3 females in seven different age brackets.

The 2016 Race 2 Raise 5K raised $3,061.99 for Relay for Life! Citizens looks forward to even more participants in the event in 2017.

Citizens Bank Minnesota Awards Scholarships

Molly Hennig, a graduate of Luther Preparatory High School, and Grant Halvorson, a graduate of Lakeville South High School, were recently presented with the Citizens Bank Minnesota’s sixteenth annual scholarship awards.  These scholarships are part of the Community Bankers Scholarship Program TM.  Both of these students received a $1,000.00 scholarship that is renewable for a potential value of $4,000.00 over four years of post-secondary education.

Lexi Grathwohl, a graduate of Cathedral High School, and Maria Shea, a graduate of Lakeville North High School, were the recipients of a $500.00 Citizens Bank Minnesota scholarship.  This is something that is offered as a random drawing to all high school seniors from the New Ulm and Lakeville area that completed the Citizens Real Life Skillz online classes.

Each year, Citizens awards two or more high school seniors with scholarships.  The scholarship program was developed to express our belief in the youth and their potential to make a difference in our community. Citizens is proud to invest in their future by promoting education and excellence.

Molly Hennig photo

Molly, daughter of Brian and Grace Hennig, will be attending Martin Luther College this coming fall, pursuing a degree in music and voice.

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Grant, son of Chuck Halvorson and Maureen Thielen, will be attending the University of Minnesota – Twin Cities this coming fall, pursuing a degree in environmental engineering.

Lexi Grathwohl

Lexi, daughter of Norman and Lisa Grathwohl, will be attending Southwest Minnesota State University this coming fall, pursuing a degree in exercise science.

Maria Shea

Maria, daughter of Julie and Bill Shea, will be attending Minnesota State University, Mankato this coming fall, pursuing a degree in elementary education.

For more information about the Citizens Bank Minnesota Scholarships Click Here

www.citizensmn.com is now www.citizensmn.bank

shutterstock_46078138What is .BANK?

.BANK is a new Internet web domain for the banking community! It is directed by banking and leading security experts, and will allow banks to more securely and effectively communicate with their customers. .BANK domains are only sold to verified members of the banking community.

Who can have a .BANK domain?

  • Banks
  • Bank Associations
  • Government Regulators
  • Select Service Providers

Why would a bank secure a .BANK domain?

  • Higher level of security than non-financial domains
  • It will help prevent users from being re-directed to fake bank websites

citizensmn.com re-direct

Website: 

Customers who access the bank’s website via the citizensmn.com address will be automatically re-directed to the .bank address.

Online Banking:

Currently when you log into your Online Banking, you are re-directed from the Citizens website to netteller.com. This is a secure site from Jack Henry and Associates, our Core Processor, and their web address will remain the same.

Questions?

For any questions you may have regarding our .bank domain, please call us at 800-549-0194 or email us at customerservice@citizensmn.com.

By: Sarah Seifert, Digital Marketing Coordinator

5 Ways to Spot a Lottery Scam

lottery scam

According to the FBI, in 2014 consumers lost more than $8 million to solicitation scams promising instant wealth and grand prize earnings. These scams, commonly referred to as the “advance fee,” “lottery” or “sweepstake” scam, involve fraudsters issuing counterfeit checks and fake award letters to consumers who have allegedly won a lottery or sweepstake raffle. The consumer, who most likely never entered the alleged drawing, is issued a check worth more than the amount owed and instructed to pay taxes and fees before receiving their lump sum payment. Unfortunately, the check — in addition to the raffle — is bogus.

Consumers fall victim to lottery and sweepstake scams at alarming rates. It’s extremely important for them to recognize the red flags associated with this type of fraud before they deposit any check they weren’t expecting or send money to an unknown recipient by check or electronic wire.

Before you participate in any lottery or sweepstake, Citizens Bank Minnesota encourages you to keep these tips in mind:

  • Don’t be fooled by the appearance of the check. Scam artists are using sophisticated technology to create counterfeit checks that mirror the appearance of legitimate checks. Some are counterfeit money orders, some are phony cashier’s checks and others look like they are from legitimate business accounts. The companies whose names appear may be real, but someone has dummied up the checks without their knowledge.
  • Never ‘pay to play.’ There is no legitimate reason for someone who is giving you money to ask you to wire money back or send you more than the exact amount —that’s a red flag that it’s a scam. If a stranger wants to pay you for something, insist on a cashier’s check for the exact amount, preferably from a local bank or one with a local branch.
  • Verify the requestor before you wire or issue a check. It is important to know who you are sending money to before you send it. Just because someone contacted you doesn’t mean they are a trusted source.
  • Ensure a check has “cleared” to be most safe. Under federal law, banks must make deposited funds available quickly, but just because you can withdraw the money doesn’t mean the check is good, even if it’s a cashier’s check or money order. Be sure to ask if the check has cleared, not merely if the funds are available before you decide to spend the money.
  • Report any suspected fraud to your bank immediately. Bank staff are experts in spotting fraudulent checks. If you think someone is trying to pull a fake check scam, don’t deposit it—report it. Contact your local bank or the National Consumers League’s Fraud Center, fraud.org.

For more information about fake check scams and how you can avoid them, go to fakechecks.org.

Article courtesy of the American Bankers Association

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