- Why Insurance Matters
- Renters Insurance Requirement
- Where to obtain the coverage
- If you have insurance, here’s how to submit it to RPM
- What is liability only
Why This Matters
Renters insurance is important because it protects tenants from financial loss due to unexpected events like fire, theft, property damage or need of additional living expenses from being displaced. This requirement ensures all residents are covered and helps prevent significant personal expenses or liability should an event occur.
Renters Insurance Lease Requirement
As a way to help reduce financial hardship when something unexpected happens, the leases requires that all tenants on the lease maintain renters’ insurance, submit it to your account, and always have appropriate coverage during the lease period. If you do not provide proof of your own policy during the time of your lease, this is considered a lease violation. As a result, the landlord will secure a liability-only policy (not renters’ insurance) on your behalf through a licensed insurance company and apply the fee to your account. This charge will start the day the file reports no coverage and continue till the 30th of every month until proof of valid renters’ insurance is received and approved.
The fee is called “Preventive Program Fee” for $27.50.
Where to obtain insurance quickly?
ePremium Insurance Agency, LLC (Cheap, Fast, and 100% online)
Call 1-800-319-1390
Click to sign up: https://www.epremiuminsurance.com/Renters-Insurance/Providers/RenterInsuranceRouter.aspx?PartnerHierarchy=oHNTD4tCRgg%3d
Policies through E-premium automatically send proof of coverage to us with the correct Interested Party designation.
GEICO (Alaska & Washington)
Call – 907-344-4411
Email – [email protected]
Country Financial
Josh Lewis 907-921-6642
Website – countryfinancial.com/Joshua.Lewis
Where is your car insured? You can call them to add it to your account.
How to update the insurance company:
Additional Insured/Interested Party information:
Real Property Management Last Frontier
C/O (PROPERTY ADDRESS RENTED)
P.O. Box 3712
Albany, New York 12203
Declarations Page Must Show:
All Tenants Named on your lease agreement
Location insured (your rental property address)
Policy number
Policy effective/expiration dates
Liability coverage of at least $100,000
Additional Insured/Interested party listed as noted above
How to send it to Real Property Management?
Please submit your updated declarations page using the link below and select your address.
or
Email: [email protected] (for Alaska) [email protected] (for Washington)
If you added us as Additional Insured / interest then they will automatically email it to us.
If you used E-Premium as an insurance provider, they will automatically update your file.
What is a liability only policy?
The policy is not personal liability insurance or renters insurance. The policy does not cover any of your personal belongings, additional living expenses, or liability arising out of bodily injury or property damage to any third party. This is a coverage that only benefits the landlord for liability situations. If you require any of this coverage, then you should contact an insurance agent or insurance company of your choice.
We are pledged to the letter and spirit of U.S. policy for the achievement of equal housing opportunity throughout the Nation. See Equal Housing Opportunity Statement for more information.
