Tenant Protector Plan ® coverage for landlords
The Tenant Protector Plan ® provides additional protection to you, as a landlord, and your tenant for tenant-caused negligent losses. Whether you want to add the Tenant Protector Plan ® to your single family dwelling or units of a large apartment complex, National Real Estate Insurance Group is here to help.
You can purchase the Tenant Protector Plan ® as a stand-alone option or combine with property and liability coverage. Submit your property information using our online proposal request, and receive a custom proposal. An agent will contact you to go over your insurance options and help you choose the best coverage for your business.
Start a proposal request to get your Tenant Protector Plan ® today!
What does the Tenant Protector Plan ® cover?
TPP Coverage Overview:
- Choice of $60,000 or $100,000 Limit of Liability for tenant-caused negligent losses which allows your property carrier to recover some or all of their claims payout (up to the chosen limit) when the tenant is the negligent party, which can help stabilize your property rates over time.
- $10,000 of Contents coverage for your tenant’s personal items following a covered peril loss.
- $2,500 sublimit per tenant for contents of non-negligent tenants of units affected by a covered loss, subject to a maximum of $7,500 per occurrence.
- Skip Rent Coverage which can reimburse you up to $1,000 in the event of an unexpected vacancy (tenant who breaks the lease mid-term, eviction, military deployment, or untimely death).
*Portfolios with 20 or more insured locations are eligible for a $50,000 limit of liability option with no deductible. Ask your agent for details.
Covered perils under the Tenant Protector Plan
- Fire
- Explosion
- Vandalism (not intentional by the tenant)
- Smoke
- Sewer & Drain Back-up
- Wind/Hail
Why do investors choose the Tenant Protector Plan ®?
In the event of a tenant-caused negligent loss which is no fault of you, the landlord, your property carrier will make you whole for that loss. The limit of liability allows your property carrier to recover some or all of their loss payout, which can help to stabilize your property rates.
What if my tenants have renter's insurance?
If your tenants fail to keep up with their monthly payment, their coverage may lapse, leaving you responsible for any damages to your property. Our Tenant Protector Plan® allows you to ensure that coverage is in force when you need it most. If, at the time of loss, your tenant has Renter’s Insurance in place, the Tenant Protector Plan will act as secondary behind the Renters coverage, picking up losses beyond the tenant’s limit.
How much does the Tenant Protector Plan ® cost?
Cost for the Tenant Protector Plan ® will depend on the number of units insured and limit of liability chosen, but is typically $10 – $15 per unit (plus taxes and fees), per month. Because of the benefits available for tenants, some investors choose to pass on the cost of the plan to their tenants in the lease.
What deductible should I choose for the Tenant Protector Plan®?
You are subject to a $500 deductible on the limit of liabliity and your tenant is subject to a $500 deductible on their contents coverage. Get started with the Tenant Protector Plan proposal request and one of our licensed insurance professionals will contact you with your custom proposal.
Add property and liability coverage
If you don’t already insure your rental properties with National Real Estate Insurance Group, we offer one of the most comprehensive insurance solutions for investment properties. Our products can accommodate almost any type of investment properties.
Need to speak to an agent?
Please give us a call at 888.741.8454 to speak to a licensed insurance professional. If you would like to discuss your specific location, please request an insurance proposal and one of our agents will contact you shortly.
Want to learn more about the Tenant Protector Plan ®?
To learn more about the Tenant Protector Plan, read one of our articles or go to the Resource Center to learn more about different insurance topics.
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