What does Tenant Liability Insurance cover?
POLICY COVERAGE: $100,000 Legal Liability for damage to Landlord’s property.
As a condition of our lease, we require all residents to carry liability insurance ($100,000) for damage to the landlord’s property during the term of their lease. You have two options: #1 - You may provide proof of $100,000 liability coverage from any insurance provider or, #2, you can take no action and be automatically enrolled for coverage for $12.50/month. This additional amount will be charged on a monthly basis to your tenant ledger. This automatic coverage meets the minimum requirements of the lease and there is no action required on your part as you will be enrolled if you do not provide proof of coverage from another provider. The $12.50/mo policy covers only your legal liability for damage to the landlord’s property (covered losses include fire, smoke, explosion, water damage, backup or overflow of sewer, drain or sump, falling objects, riot, or civil commotion) up to $100,000.
The policy is not personal liability insurance or renters insurance. The policy covers damages to the Landlord's property, but the policy does not cover any of your personal belongings, additional living expenses, or liability arising out of bodily injury or property damage to any third party. If you require any of this coverage, you should contact an insurance agent or insurance company of your choice and sign up for a Renters Insurance Policy.
PLEASE NOTE: You are under no obligation to participate in our tenant liability insurance program if you provide proof of coverage from a different source. You may satisfy the lease requirement by obtaining a personal renters insurance or liability insurance policy from an insurance agent or insurance company of your choice and providing proof of coverage (a copy of the declarations page) for the duration of your lease.
Please see the following document for more information: Tenant Liability Insurance Info Sheet