renters insurance is now required for all our tenants -- but more than that, it’s the best way to protect yourself and your belongings in case something goes wrong.
here's everything you need to know about renters insurance and how it works.
what is renter's insurance?
think of it as a safety net to protect your belongings from unexpected events like theft or accidental damage. you never know what life can throw at you, but having renters insurance helps you bounce back faster!
here are a few instances that can be covered by renters insurance:
to make things easier, we’ve partnered with LeaseTerm Solutions to offer AssetProtect -- an affordable plan that’s already built into your monthly billing (just $14/month!)
coverage includes:
- up to $10,000 for personal property
- up to $100,000 for liability (kitchen fires, water damage, etc.)
click here to download the full flyer of information!
other questions?
here's a few we hear a lot. if you don't see your question answered below, feel free to contact our office.
what is AssetProtect?
AssetProtect is a coverage option provided for personal property damage in events such as fire, water damage, theft, and other risks. AssetProtect provides you with coverage of up to $10,000 in such cases.
you are also provided with coverage of up to $100,000 for any damage you may cause to your apartment in instances like a kitchen fire. for more information on AssetProtect, download their flyer here.
what does it cost, and how do I pay for it?
we worked with LeaseTerm Solutions to offer a low-cost rate of $14/month -- our goal is to make it easy and affordable for you to protect yourself and your belongings.
if you choose to use this option, the monthly payment will be added to your tenant portal along with your rent and utilities, and will be due at the first of the month. you can pay this the same way you choose to pay your rent. you can find more information on making payments through your tenant portal here.
what does renters insurance actually cover?
while we always hope bad things and emergencies won't happen to us, they still can! renters insurance can cover you in a variety of emergencies such as:
property damage: renters insurance protects personal belongings such as furniture, electronics, clothing, etc. in case they are stolen or damaged in a fire or water leak. your coverage can help replace or repair these items.
liabilities: having renters insurance can provide you coverage in case someone is injured while in your apartment and they find you responsible. this coverage can help pay for medical bills or legal expenses if things go to court.
additional living expenses: if something happens to make your apartment uninhabitable (due to a covered event like a fire or natural disaster), renters insurance can help cover the cost of temporary housing until things are resolved.
why does SAMI require renters insurance?
while we have always encouraged our tenants to consider purchasing renters insurance, it is now required due to a variety of reasons including your safety as a tenant and our own building insurance requirements.
what happens when I actually need to use the insurance?
in case of an emergency where you need to use your renters insurance, you'll need to file a claim.
if you are using the renters insurance provided by SAMI, you can find instructions on filing a claim here.
if you have opted out with your own insurance provider, you'll need to follow their instructions and guidelines on how to file your claim.
