AssetProtect Plan – Tenant Coverage


AssetProtect is an insurance policy that protects the Landlord, and the Landlord is the Named Insured with the Tenant as an Additional Insured on the liability component. The Tenant is a Loss Payee on the contents component of the coverage. This status enables Tenants to have their personal contents covered under the Landlord’s policy and to file claims directly with the insurance carrier when covered losses occur.

If the property you are renting or are interested in renting has an AssetProtect Plan provided by the Landlord (property owner) for the benefit of the Tenant, then you have your personal contents covered by insurance during your tenancy at this specific property, to include up $100,000 coverage per occurrence for any Tenant-caused accidental damages that might occur at the property.

$100,000 Limit for Tenant’s legal liability for damage to Landlord’s real, improved and personal property, including any fixtures, for no less than the following causes of loss: fire, water, smoke, backup or overflow of sewer, drain or sump, water damage, falling objects, collapse, pet damage, freezing of plumbing, explosion, overflow of appliances, loss of rental income, bed bugs, mold


Tenant’s Personal Contents Coverage:

AssetProtect includes a Contingent Personal Property Contents Coverage Endorsement in the amount of $10,000. The contents coverage offered under this policy provides protection for your personal belongings extending to specified name perils (including burglary) subject to terms of the policy. Coverage may be narrower than a traditional renters insurance policy. If Tenant desires additional renters coverage, Tenant is free to secure at their expense a personal policy from any third-party insurance agency. Any additional policy would be a personal policy and not related to or a  replacement for the AssetProtect Policy provided by Landlord during Lease Term.

$10,000 personal contents coverage, for no less than the following causes of loss: fire or lightning, water, smoke, explosion, windstorm or hail, falling objects, collapse, burglary (on-site)

Your coverage will be begin on the Lease Effective Date. Claims for contents can be filed directly online with insurance carrier via their online claim form. Tenant must go to or call 1-800-597-1866 to file any claims.

Helpful PDF Documents:

What does AssetProtect Insure

How to file a Claim

AssetProtect Tenant Q&A


Here are the most common questions asked about the AssetProtect Plan.

Q: What is the AssetProtect Plan and Coverage?

A: It is an asset insurance product that provides coverage for “tenant-caused” damages to a rental property and it is serviced by LeaseTerm Solutions. Each major occurrence provides up to $100,000 in liability coverage for any accidental damages.


Q: Do I get any of my personal contents covered within the AssetProtect Plan?

A: Yes, you have coverage up to $10,000 for Tenant contents. You can file a claim direct with the Insurance Agency with no Management Company or Landlord involvement. Deductibles are a Tenant expense and could be required based on claim, Insurance Agency will inform at claim.


Q: Any cost to me for having this Plan while leasing this specific rental property?

A: No, your Landlord (property owner) is providing this Policy on your behalf during your Lease Term at the property.


Q: Do I have to go get a third-party renters insurance policy like all other rentals require?

A: No, your Landlord has provided your minimum required insurance coverage for this rental property. However, if you desire to secure a renters policy for any additional coverages, it is up to you, but it is not a requirement with this specific property.


Q: How does the damage reporting process work should I have an occurrence?

A: Let your Property Manager know about the damage immediately. Claims are filed by Management Company for all occurrences. The size, severity and complexity of the claim will determine if a desk or field adjuster is involved. On average, most claims close within 30 days but the length can vary depending on the detail involved with the claim.


Q: Are there any property claim deductible amounts that I will be responsible for?

A: Major occurrences do not have any deductibles, smaller claims: pet damage, bed bug, or mold would be $250 and charged to the Tenant as damages at time of occurrence.