If you decide to collect a deposit, your Rental Protection coverage will only apply to covered loss that exceeds the amount of the deposit you collect.
Example A: If a landlord collects $1,000 in deposit and the renter causes covered damage that adds up to $4,500, and the landlord has up to $5,000 of coverage under Rental Protection, Rental Protection will cover up to $3,500 of the claim.
Covered Loss ($4,500) - Deposit Amount ($1,000) = Loss Payment (up to $3,500)
Example B: If a landlord collects $2,000 in deposit and their renter causes covered damage that adds up to $4,000, plus covered renter default that adds up to $3,500, Rental Protection will cover up to the maximum coverage amount of $5,000.
Covered Loss ($4,000 + $3,500 = $7,500) - Deposit Amount ($2,000) = Loss Payment (up to $5,000)
These examples are for illustrative purposes only. Coverage for any claim will depend on the specific obligations, conditions, and exclusions in the policy.
Rental Protection is lease insurance for landlords offered through Zillow Insurance Services, LLC (“ZIS”), a licensed insurance producer (AZ license no. 3001395092, CO license no. 721581, and NC license no. 3001614207). ZIS will refer landlords that express an interest in Rental Protection to LeaseLock Insurance Services, Inc. (“LeaseLock”), a licensed third party agent and surplus lines broker, to consider securing for their benefit such coverage, if available. Rental Protection is sold and administered by LeaseLock on behalf of one or more insurance companies. Requested Rental Protection coverage may not be available in the admitted market in your state. Such insurance companies may not be subject to your state’s insurance regulations and protections. Rental Protection may not be protected under your state’s guaranty act with respect to any right of recovery for the obligation of an insolvent insurer. Availability of Rental Protection may be subject to surplus lines exportability in your state.
ZIS may receive a fee or commission in connection with the sale of Rental Protection, but is not appointed to act on behalf of any insurance company. Rental Protection is not available in all states. If you would like information about other insurance coverage options, you should consult another insurance producer.
Zillow, Inc. provides the technology which powers the Zillow Rental Manager platform. Zillow Inc. does not receive compensation for the advertisement or sale of Rental Protection.