FAQ's

Property Owners : you have questions, we have answers.

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Q. Can landlords require residents to carry renter insurance liability insurance?
A. Yes, management companies are permitted to require tenants to carry a minimum level of liability coverage in most states. Personal belongings (contents) coverage is an option available in most renter insurance plans.

Q. Why is requiring renters insurance a good idea?
A. Management companies are not responsible for, nor do they provide coverage for the loss or damage of personal property belonging to community residents. In addition, residents are responsible for damage to their unit as well as any damage they may cause to the property of other residents within the community, even if the damage is accidental.

Q. I don’t want my onsite staff spending valuable leasing time administering the ResidentShield program, what’s our involvement?
A. Once we enroll your company in the program, we will coordinate the program training with your onsite leasing staff. Our online training sessions generally take twenty minutes. Once your onsite staff is trained, your involvement is minimal. We provide your staff with ResidentShield brochures to answer many questions and our website, www.ResidentShield.com is easy to navigate to obtain rate quotes and general policy information.

Q. If we require all tenants to carry renters insurance, will my residents resist the added expense?
A. Once your residents are educated as to the advantages of carrying renters insurance coverage, they begin to understand the value of mitigating their own risk and liability, along with having coverage for their contents that the landlord is not liable to replace. In addition, premiums for liability and contents coverage average less than one dollar per day.

Q. Do my onsite leasing agents sell the renters insurance plan?
A. No. They are not licensed insurance sales agents. Under the terms of a mandatory renter insurance program, making renters insurance a condition of residency removes the leasing agent from the selling process. We also provide resident-oriented brochures and fact sheets that explain policy coverage and benefits to your residents. Lastly, our ResidentShield representatives are always available for supplemental training and support when you need them.

Q. How do I know if program is successful?
A. We provide usage reports on the month-end basis. You can see the progression of usage and policies in force over the course of your fiscal year.

Q. Are the policies you offer industry standard and competitively rated?
A. The insurance providers we represent are ‘best in class’ with broad coverage options and flexibility. Annual premium rates are extremely competitive.