Accidents happen. When they do, it’s important your tenants have insurance in place. This reduces your risk and protects your investment’s profitability.
As a property management company, we have begun requiring resident insurance from our tenants. This helps protect your properties from accidental tenant-caused damage (like kitchen fires or water damage).
Tenants are required to provide proof of resident insurance upon move in. They are otherwise enrolled in our own tenant legal liability insurance program.
Tenant liability insurance protects you from having to pay out of pocket for repairs that are truly a tenant’s responsibility. Requiring resident insurance is a growing trend among the largest owners and operators in property management.
• No cost to you
• Reduces claims on your building insurance, which can result in rate increases or cancellation
• Decreases out of pocket repair expenses, which impact cash flow and profitability
Our company, together with AppFolio, has partnered with Great American Insurance
Group to provide an easy and cost effective tenant liability insurance solution. Each
enrolled tenant is added to our master commercial policy, and charged for coverage.
Policy coverage: tenant liability to the landlord for damage to the leased property (limit of
$100,000 per occurrence). Covered losses include fire, smoke, explosion, water damage,
backup or overflow of sewer or drain, falling objects, riot, civil commotion.
Tenant Liability Insurance Program is developed and managed by AppFolio, Inc., and the agent/broker for this program is Beecher Carlson Insurance Services, LLC.
Tenant Liability Insurance Policy is underwritten by Great American E&S Insurance Company.
Policy Details: www.appfolio.com/insurance