Renters insurance is an essential part of your lease agreement, providing valuable protection for both you and the property. At [Property Name], we are committed to helping you stay in compliance and protected. This post will guide you through the importance of maintaining renters insurance, what happens if it lapses, and how we help you stay on track. 

The Role of Renters Insurance

Renters insurance offers coverage for your personal belongings, liability protection in case of accidents, and peace of mind. As per the terms of your lease, you are required to maintain renters insurance with at least $100,000 in liability coverage throughout your lease term. 

Our Notification Process 

We understand that policy renewals can sometimes be overlooked. That’s why we’ve implemented a reminder system to notify you 30 days before your renters insurance policy is due to expire. 

You will receive an email reminder with instructions to upload your policy’s declarations page via your tenant portal. This page must include: 

- Policy Number 

- Name(s) of the insured 

- Policy Start & End Dates 

- Liability Coverage of at least $100,000 

What Happens if You Don’t Renew Your Policy? 

Failure to update your policy information on time will result in being out of compliance with your lease agreement. If your coverage is not updated by the specified deadline: 

- Your unit will automatically be enrolled in Liability to Landlord Insurance. 

- This insurance only covers liability to the property and does not protect your personal belongings. 

- You will be charged $10.50/month for the coverage, plus an additional $3.00/month administrative fee. 

Stay Compliant – Protect Yourself and Avoid Fees

Maintaining renters insurance ensures that you stay compliant with your lease while also providing essential protection for your personal belongings. By staying proactive and updating your policy information on time, you avoid unnecessary fees and maintain peace of mind. 

If you have any questions or need assistance, please reach out to your property manager directly. 

FRAME LA Management

admin@frame.la