Effective Coverage partners with property owners and managers across the country to bring tenant risk mitigation programs to residential property managers, add resident value, decrease turnover, and improve residents’ perception of the community.
Renters Insurance Programs Don’t Have To Be Complicated!
Our partners have chosen to work with Effective Coverage because they have their residents’ best interests in mind and want to offer an affordable renters insurance program on highly rated paper while decreasing losses from tenant negligence. Our relationships with top-rated insurance carriers such as Travelers, ASI Lloyd’s, Bankers, Progressive, Stillwater (f/k/a Fidelity National), and American Strategic Insurance, allow us to offer your residents multiple options from reliable insurance carriers. Effective Coverage brings these companies together to give your residents the insurance solutions that meet their needs at prices they can afford, all while insulating you from the risks of tenant negligence.
Offering your residents access to superior insurance has never been easier.
Your dedicated Effective Coverage program manager will help you quickly customize and implement a program which improves resident retention, decreases losses from negligence, and drastically reduces the administrative burden on your staff. All of our programs are designed to take work off of your desk while bringing value to your residents and owners.
4 Reasons to Offer Renters Insurance Programs
- Whether you elect a mandatory renters insurance program, voluntary participation, or a hybrid insurance waiver program, your communities benefit. A renters insurance program provides subrogation opportunities and improves your loss ratios while dovetailing with your overall risk management strategy.
- Renters insurance policies offer resident retention advantages. Even with a major loss, you don’t have to lose the resident. They get loss of use coverage to help them with a temporary place to stay after a covered loss such as a fire, as well as personal property coverage to ease the financial burden of a major loss.
- Effective Coverage offers innovative marketing strategies to encourage resident participation and to position the program as a benefit and value-add for the resident.
- Effective Coverage handles all of the administrative work. All you have to do is offer the renters insurance program, and we take care of the rest, including tracking of renters policies and a comprehensive compliance notification and enforcement platform.
Effective Coverage also offers additional value-adds for both residents and employees. Discounts on auto insurance are available, as is a comprehensive review of the member’s insurance policies to identify potential gaps in coverage or places where cost can be reduced. Counseling on how to best manage and maintain a home inventory is available, as well. Discounts on auto insurance are available for leasing agents and residents, as well.
If you rent your home, you need renters insurance. It’s that simple. The policy protects you against liability risk as well as protecting your personal property. There are additional types of coverage included in your package policy, as well. Renters policies are incredibly affordable, and Effective Coverage makes it easy for residents to get the coverage they deserve.
If you’re a renter and looking at purchasing a home, Effective Coverage can help. You can even get a discount on homeowners insurance based on the fact that you’ve maintained renters insurance. That combined with purchasing a home makes you a better risk from an actuarial standpoint.
If you buy a condo, condo insurance is crucial. Some people go without, thinking that the association’s policy covers them. That’s not the whole truth. The association’s policy covers the building, but not your alterations and improvements. These ‘betterments and improvements’ include walls, fixtures, and everything else. The association would give you a bare concrete box, everything from that point is on you and your condo policy.
Auto insurance coverage and price can vary widely from state to state. That’s why it’s important to work with an insurance expert who can get you the coverage you need and the discounts that you deserve. Your insurance expert can also ensure that the policy on your home and the policy on your auto work together without gaps in coverage.
Your home policy, whether renters, condo, or home, may not fully cover your jewelry. Our jewelry coverage guide goes into the details, but often coverage for theft of jewelry has a limit. There are a number of ways to cover those important pieces, by endorsement or with a separate policy designed for the purpose.
What happens when a loss becomes unexpectedly large? Auto accidents, and even fires and other losses, can quickly get out of control. Liability limits on your policy are designed to be sufficient for most accidents. If injuries or property damage caused by your negligence continue to spiral upwards, an umbrella policy can make sure you’re protected. They come in increments of $1,000,000 and pick up where the underlying policies leave off. This is the best way to protect your current and future assets.