| Yardi Insurance Services* offers the free ResidentShield renter’s insurance program to reduce your property risk from resident-caused loss, and offer your residents proven protection. A recent independent study estimated that a required renter’s insurance program saves $22 per door annually – at no cost to the property owner. This represents a nearly 80% savings on out-of-pocket costs associated with resident damages. Further, property owners may realize a reduction in property and casualty insurance premiums when residents carry their own insurance.
The ResidentShield required renter’s insurance program offered by Yardi Insurance Services will provide your leasing staff with training and marketing materials, along with easy enrollment for your residents. Program progress reports are readily available to your managers to track success. And Yardi Insurance Services assists the policyholders with customer service issues, so your staff is "hands off."
Key Benefits
- FREE program
- Easy resident enrollment
- Savings on out-of-pocket deductibles
- Reduced property insurance premiums
- Training for leasing staff
- ResidentShield marketing materials
- Online product training supplements
- Detailed program progress reports
- Policyholder customer service
ResidentShield ResidentShield offers resident liability and personal contents coverage backed by the most experienced underwriters in the industry, ensuring maximum protection. A variety of insurance underwriters are used to meet the specific needs of renters. ResidentShield programs include basic resident liability and comprehensive renter’s insurance. Residents and their possessions are protected against fire, smoke, lightning, wind, water damage (including water/sewage backup), and theft – including personal property and automobiles.
Implementing a required renter’s insurance program has become standard business practice for portfolio managers across the industry. Of the top 50 apartment management companies, over 50% require renter’s insurance coverage. In fact, the National Apartment Association’s master lease now encourages owners to utilize a required program to mitigate risk. And while ResidentShield protects owner assets, it provides reliable protection to renters, who consider your properties "home."
Key Benefits
- Coverage option plans with deductibles as low as $250 per claim occurrence
- Pre-approval for coverage (no additional background or credit checks)
- Guaranteed premiums (no increases resulting from past claim activity)
- Liability and personal property coverage at full replacement cost, not 'actual value'
- Ability to name up to four non-related residents (roommates) on one policy
- Portability (policy transfers without a lapse in coverage)
*Insurance products are sold through Peak Insurance Advisors, LLC, an independent insurance agent and wholly owned subsidiary of Yardi Systems, Inc. Insurance is provided through several third-party underwriters. |
