It is important to understand the benefits of renter’s insurance. This is a requirement of your lease agreement and is in place to primarily protect the tenant.
Landlords carry liability and disaster insurance on the building you are residing in but it is important to understand these policies do not extend coverage to personal belongings of residents. In the event personal property is damaged, lost, or stolen – the resident will unfortunately have no assistance in replacing these items without a renter’s insurance policy.
Renter’s insurance policies are generally inexpensive and can easily be added to existing coverage your current insurance broker (think car insurance, etc). Policies typically establish personal belongings and liability limits.
Residents that do not furnish proof of renter’s insurance prior to move in, will be auto enrolled in Appfolio’s personal liability policy. This policy does not extend to personal belongings.
Our team has partnered with Lemonade, a leading provider in renter’s insurance to provide options that are directly synced to our team’s account. You can use this link to set up your policy in a few minutes and our team’s information will be auto filled and the proof of coverage will be directly emailed to us once your registration is complete.
For more information regarding Appfolio’s insurance offering, click here.
For more information on why landlords require renter’s insurance, read here.
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