LANDLORD REQUIRED LIABILITY INSURANCE
The Lease requires all Tenants to carry a $100,000 in Tenant
Legal Liability coverage for accidental or tenant damage
resulting from fire, smoke, backup or overflow of sewer, drain,
water damage, falling objects and collision with vehicles.
CHOOSE ONE OF THE FOLLOWING OPTIONS BELOW
Option 1: Do nothing — you will be automatically enrolled in our Tenant Liability Insurance
Program. You pay the monthly premium together with rent. (See details on back)
Tenant Liability Insurance DOES NOT include coverage for:
Personal Property Theft Loss of Use
Cost: $9.00 per month (+ $3 admin fee)
TLI.TEN.9-30-2020
Option 2: Purchase renters insurance from our preferred provider and provide proof of
coverage to us. The policy is pre-underwritten and meets the terms of your lease while also
providing coverage for:
Personal Property Theft Loss of Use
Cost: Depends on limits, coverages, and deductibles selected — Scan for more info:
Option 3: Purchase renters insurance from a licensed agent and provide proof of coverage
to us. Please ensure to obtain limits that meet the required amounts and name our Property
Management Company as an "additional interest".
Cost: Varies on your provider and applicant’s creditworthiness, among other factors
WHAT IS RENTERS INSURANCE?
Renters insurance is an agreement between you and your insurance company that covers you if any of your
personal belongings, like furniture or electronics, get damaged or destroyed. Renters Insurance also provides liability
coverage, which protects you for negligent damage to the apartment or injuries to others that may occur at your
place.
WHAT DOES THE TENANT LIABILITY POLICY COVER?
This policy offers protection from accidental or negligent damage associated with the perils of fire, smoke. explosion,
backup or overflow of sewer. drain or sump, & water damage of up to $100.000 per occurrence with no aggregate
limits. Tenant's benefit from this by having some protection in the event they cause damage to the landlords' assets.
ARE WE REQUIRED TO OBTAIN THIS INSURANCE?
Yes. The Landlord requires coverage of $100,000 of liability coverage per the lease agreement. This requirement
can be fulfilled by either a Renters Insurance policy or a Tenant Liability policy. Tenants may opt out of this coverage
by obtaining a similar policy from their own insurance company of choice.
IS MY PROPERTY MANAGER AN INSURANCE SALESPERSON?
NO. Your property manager is not a licensed insurance salesperson. Contact Beecher Carlson at (404) 460-1425
should you have questions about your insurance options.
WHO IS BACKING THIS INSURANCE?
The Tenant Liability Insurance is underwritten by Brit Global Specialty USA.
Coverage Comparison
for Resident
Tenant Liability
HO-4
(Renter’s Insurance Policy)
Name Insured
Landlord Resident
Typical Liability Limit
• $100,000 in Landlord Legal
Liability coverage
• $100,000 Personal liability
• Roommates can be added
• Pet damage can be added
• Can purchase additional limit
Typical Annual Cost to
Residents
• Typical cost is $9 a month + $3
admin fee
• Varies depending on limit purchased
• Typical cost is $15 to $16 a month
Typical Personal
Property Limits
• No personal property coverage
available
Includes:
• Personal property coverage
• Theft and Vandalism
• Coverage for damage due to fire, smoke
• Includes water damage
• $10,000+
Typical Exclusions
• No Personal Property
• No Theft
• No Pet Liability
• No Loss of Use (If you had to
move out due to a claim)
• Many exclusions can be removed by
paying additional premiums.
Program Deductibles
• No Deductible ($250 minimum
claim required)
• Varies depending on resident option.
