What is The Waiver?
Get Protected with our Resident Liability Waiver
If you’re one of the many renters without a renter’s policy, or no property damage liability coverage, you need to remedy that problem ASAP. This community requires all residents, as dictated under your lease, to have of at least $100,000 of liability coverage. If as a result of your negligence, you cause damage to the building (including yours or other units), you could be liable for repairs, mitigation and other costs…potentially tens of thousands of dollars.
Simple and easy: There are no special forms to complete, quotes to obtain, or insurance to renew.
• Low-cost: Waivers are typically less expensive than renter’s insurance plans.
• Convenient: No credit check is required, or insurance agent to contact.
• Peace of mind: Reduce your risk and fulfill your contractual obligations required by your lease.
How It Works
The Resident Liability Waiver is paid for as additional monthly rent. In return, your unit has liability coverage up to $100,000 for accidental damage that you or your invited guests may cause from fire, smoke, explosion, water discharge, or sewer backup. Damage to your personal property may also be covered subject to limits. Check with your community representative for the additional rent amount and other details.
If any one of the five covered types of perils occur, the process goes like this:
• 1.You notify your community manager, who is the insured under the policy.
• 2.The community manager files a claim.
That’s it, your part is done! All that’s left for you to do is wait for the insurance company’s claims adjustor to determine the amount of the damages and pay to replace the damaged items.
Ask your property manager today for a Resident Liability Waiver.
updated September 2019