ROCKVILLE, MD - First Advantage SafeRent, Inc. and its subsidiary, Multifamily Community Insurance Agency, Inc., are pleased to announce the availability of the new Resident Liability Policy as part of the RegistryTLC® renters insurance program. This low-cost policy is designed to help residents get the coverage they need to comply with their lease provisions at a time when many residents are experiencing economic challenges. Through a secure Web site, residents can enroll and provide payment in just minutes without any leasing staff involvement.
Resident liability insurance covers the resident for specified types of property damage or bodily injury they could potentially cause to the apartment community or to other residents. This type of coverage is often an important part of the lease requirement because damage or injury caused by a resident is usually the financial responsibility of the resident, not the property owner. With the availability of the Resident Liability Policy, residents now have an even more affordable way to comply with this landlord lease requirement.
"Renters insurance becomes particularly important during times when everyone is paying close attention to expenses. If a resident has a covered incident that causes damage to their apartment, renters insurance provides coverage instead of the resident facing a potentially large out-of-pocket expense," said Nevel DeHart, executive vice president for First Advantage SafeRent and Multifamily Community Insurance Agency. "The Resident Liability Policy will provide residents with a most affordable insurance option for complying with their lease requirements. Along with the new Resident Liability Policy, we are also introducing the option for monthly payments by credit card - making purchase of the policy even more convenient and budget friendly."
Residents at participating communities can sign up for the new Resident Liability Policy and arrange payment directly with the insurance company quickly and easily at www.RentersInsuranceSelect.com (site is available in both English and Spanish). The policy is currently available in 22 states and will eventually be available nationally.
First Advantage SafeRent, Inc., a wholly owned subsidiary of First Advantage Corporation, is the nation's leading and most innovative provider of screening and risk management services to the multifamily housing industry. Through its offices in Rockville, Md., and support offices across the nation, First Advantage SafeRent offers a single source for resident screening services, renters insurance programs (through its wholly owned subsidiary, Multifamily Community Insurance Agency, Inc.), automated lease and document generation and property performance evaluation tools. More than 39,000 properties, representing over 6 million apartment homes, rely on First Advantage SafeRent every day to assist them in screening residents to meet their community standards and maximize profitability. First Advantage SafeRent leads the industry in innovations and enhancements designed to make the decision process faster, easier and more accurate
Source: First Advantage