Implementing a required renters insurance program has become standard business practice for portfolio managers across the industry. A recent independent study estimated that a required renters insurance program saves $22 per door annually – at no cost to the property owner. ResidentShield Protection Plan provides comprehensive property risk management, with two renters insurance program* options that protect you from resident-caused loss, and offer your residents proven coverage.
Enrollment is easy for your residents, and Yardi provides training for your leasing staff, along with marketing materials, detailed program progress reports, and policyholder customer service. Eligible landlords can earn revenue for assisting with program implementation and ongoing administration. And insurance compliance tracking is built right into Yardi Voyager.
Key Features
Pre-approval for coverage (no additional background or credit checks)
Instant online insurance quotes and policy issuance within Voyager lease workflow
Guaranteed premiums (no increases resulting from past claim activity)
Personal liability and 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)
ResidentShield HO4 renters insurance 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. This comprehensive insurance option ensures residents and their possessions are protected against fire, smoke, lightning, wind, water damage (including water/sewage backup), and theft – including personal property and automobiles.
Tenants' Legal Liability
Tenants' Legal Liability is a basic insurance option that provides residents an easy, affordable way to fulfill their lease requirements. It protects the resident against liability claims resulting from fire, smoke, explosion, backup or overflow of sewer, drain, or sump, and water damage, up to loss limits of $100,000 per occurrence. In addition, supplemental coverage options are available at lower limits for loss of rent, pet damage in excess of any applicable pet deposit, ‘skip’ loss, bed bug remediation, and insufficient security deposit.
*Yardi offers the ResidentShield Protection Plan (including ResidentShield HO4 and Tenants' Legal Liability) through its wholly owned subsidiary Peak Insurance Advisors, LLC dba ResidentShield.
Insurance products are sold through Peak Insurance Advisors, LLC, an independent insurance agent and wholly owned subsidiary of Yardi Systems, Inc. Peak Insurance Advisors, LLC does business in California as Premier Multifamily Insurance Services LLC, in New York as Premiere Multifamily Insurance Services, LLC, and in Michigan as Premier Multifamily Insurance Agency LLC.Insurance is provided through several third-party underwriters.
