Tenant Insurance Requirements
There are two ways to satisfy this requirement:
- (1) Enrolling in outside insurance coverage of your choosing.
- (2) Opting into the 1st Choice Property Management Master Policy.
-$100,000 Resident Liability Insurance Coverage Provided Under the 1st Choice Master Policy.
-$20,000 Renter’s personal property including theft Provided Under the 1st Choice Master Policy.
-$10,000 Bodily Injury Liability Protection Provided Under the 1st Choice Master Policy
Residents may OPT OUT of being enrolled in 1st Choice Property Management Resident Liability Insurance by providing written proof to the following three items PRIOR to the signing of this lease agreement:
- Evidence of Required Insurance levels to show the Policy is in effect, when it will start, when it will end, and who is named on the policy.
- 1st Choice Property Management must be named as an “Additional Interested” party to the insurance binder provided by the Resident.
- The Resident Liability coverage has to be equal to or greater than: *$100,000 in Resident Liability Coverage to the Property.
Failure to Maintain Insurance: If the Resident’s coverage for their self-directed Resident liability insurance is lapsed by either non-payment or non-renewal, 1st Choice Property Management will place that Resident under this program by default for an additional cost of $20 per month plus a $75 set up fee.