Skip to content Sitemap

Liability Insurance

Renters Insurance versus Tenant Liability Insurance

Per your lease agreement,  tenant is to maintain $100,000 in Tenant Liability Coverage. The Landlord is the person named as insured and you are additionally insured.

This is NOT renters insurance, however a renters insurance policy can be obtained that includes Tenant Liability Insurance and will meet your obligation on this matter. Tenant Liability Insurance does NOT cover your personal belongings and does not provide coverage liability for bodily or property damage to others.  Tenant Liability covers accidental tenant caused damages resulting from Fire, Smoke, Explosion, Falling Objects, Riot or Civil commotion, water damage, back up or overflow of sewer, drain or sump. The Landlord is covered and you are additionally covered on the policy. The coverage is narrower than a personal liability insurance coverage you may obtain with “Renters Insurance”.

 We have three options for your convenience –

1. For $9.50 a month added to your lease we will purchase Tenant Liability Insurance for the premises on your behalf.    You will pay it with your rent monthly.  You will not need to do anything else.  This is done automatically in the name of the owner.  This will meet your contractual requirement but does not cover your personal property.

2. We can refer you to an insurance company we have used for many years (Valley West).  Valley West offers Renters insurance (which will cover your personal belongings and certain liability options).  You may call them or contact them on the web www.valleywest.net   Phone 714-435-4051.    Let them know you were referred through Elite Property Management.    Usually these policies run $150 – $250 for the year as it varies by the home and coverage you select.   This company offers installment payments (which have fees).   They will name our company and owner as additionally insured and send us a copy of the policy.  You will not need to do anything after the first initial over the phone consultation and signing of paperwork.   Make sure to mention Elite Property Management so they will know where to send your paperwork.

3. You may purchase your own renters insurance or tenant liability insurance with a required Tenant liability of $100,000 in damage coverage to the property.   We require a copy of the policy showing Elite Property Management and the owner as additionally insured PRIOR to move in .   As this is an important part of the lease we can not allow move in until we receive this.