What is the insurance requirement for your community?
Your community requires that you obtain insurance to protect the community against damages for which you are responsible including fire, smoke, explosion, backup or overflow of sewer, water, and falling objects. The minimum level of required insurance will be set forth in your lease and provided by the leasing staff.
What is AssetProtect?
AssetProtect is insurance coverage designed to satisfy the minimum insurance requirements of your community. Your community has chosen AssetProtect and negotiated a low-cost rate to make it easy for you to meet these requirements.
How do I sign up and what is the qualification procedure?
Simply sign the AssetProtect addendum provided by the community leasing staff. Your approval to live in the community automatically qualifies you to enroll in AssetProtect.
Must I choose AssetProtect?
No. You may choose any insurance provider to obtain the insurance coverage required under your lease. AssetProtect is your community’s preferred partner offering a low-cost option with pre-approval.
Does AssetProtect cover my personal property, additional living expenses or bodily injury?
If your community offers coverage for your personal belongings through AssetProtect, you may choose that option when signing your community addendum. The coverage extends to specified named perils and may be narrower than a traditional renters insurance policy.
If I don’t choose AssetProtect, what am I required to do?
You must furnish evidence to your community that the minimum required insurance has been obtained through another carrier prior to occupancy of your apartment. If you choose another carrier, you must have the community named as an “additional insured/loss payee” on your insurance. Failure to obtain this insurance, or letting it lapse, puts you in breach of your lease agreement. Your community may then purchase the required insurance on your behalf, and you will be responsible for reimbursement of all costs and expenses.
What forms of payment are accepted for AssetProtect?
Enroll by signing the addendum, and your AssetProtect premium can be itemized and included with your monthly rent payment (for most communities).