Rental Protection is available in two coverage levels: (1) $5,000 coverage limit for a $39/month premium or (2) $10,000 coverage limit for a $59/month premium. (*plus applicable surplus lines taxes and fees)
Both options offer the same type of coverage, the only difference is in the coverage limit and monthly cost.
When considering which coverage limit to select, you may want to consider factors such as:
- Monthly rent: consider your rent amount and how many months of rent you want to account for. You may want to consider a higher coverage limit if you have higher monthly rent or want to be prepared for several months of missed payments
- Pets: consider potential sources of property damage your tenant may cause. For example, if your tenant is moving in with pets, you may want to consider a higher coverage limit
- Security deposit: If you’re waiving or reducing your security deposit, you may want to make sure your coverage limit equals at least your typical security deposit amount. If you’re collecting your typical security deposit amount, a lower coverage limit may be appropriate.
You can change your coverage level at any time up to coverage request signing. Once you sign your coverage request, you will no longer be able to change your coverage level.
Coverage is subject to policy terms, limitations, conditions, and exclusions. Descriptions of coverage are for informational purposes only and do not alter any insurance policy or guarantee any specific price, quote or coverage. For a complete understanding of the coverage available, please review the terms, conditions, definitions, and exclusions of your Rental Protection insurance policy.