Multi-Family Tenant Renters Insurance Program

Marsh offers property managers a tenant renters insurance program to help mitigate property risks and provide needed protection against losses.

RENTERS PROGRAM

As more and more property managers require tenants to have rental insurance, Marsh offers a new Multi-Family Tenant Renters Insurance Program that can help support risk management objectives.

Coverage and Product Details:

  • Includes both Liability and Contents
  • Guaranteed Issue program
  • Customer support provided through website or toll-free number
  • Offered at an affordable monthly premium
  • Underwritten by Kemper Select companies


ENHANCED BENEFITS FOR PROPERTY MANAGERS

Additional features of this program serve to benefit property managers:

  • Water Legal Liability coverage is provided including accidental discharge or overflow of water from items such as plumbing, waterbeds, or household appliances
  • With respect to “Property Damage Liability,” this policy also extends the definition of “Insured” to include anyone listed on the lease or rental agreement
  • Animal Liability: $25,000 in most states—and only available to sponsored programs

Who it’s for:

This program is designed for property managers with 5,000+ units and an underlying tenant insurance requirement as a component of the lease.

What you get:

Property management firms gain the following benefits from this coverage:
  • Loss protection—coverage helps to protect against losses caused by tenants to their unit or surrounding units
  • Reduced commercial property insurance premiums (with tenants’ policies in force, losses to property managers will be lower and usually rates are reduced)
  • Reduced operational expenses and hassle. Assisting tenants with questions about the building’s protection class, alarm systems and the construction type is no longer necessary.