Renters Insurance Plus Training Center

Renters Insurance Plus is a great leap forward for all property managers. Our owners benefit significantly, because we can now track and know for certain that they have outstanding renter’s liability coverage.

Glenn Russell Coastal Group, Inc.
  • Use the lease addendum

    By having your tenants sign the lease addendum we provide, they will be contractually obligated to purchase and maintain liability insurance throughout their lease.

  • Share the brochure

    Keep your tenants informed. Download and share the Assurant’s Point of Lease Insurance brochure as soon as prospective tenants show interest in your units. Download the brochure here.

  • Watch the training video

    Renters Insurance Plus makes it easy to require renters insurance at lease signing, but there’s a lot to know. Watch the training video and review the FAQ’s below.

  • Tips to get tenants on board

    Download this guide for guidance on how to get a successful renters insurance program up and running.


Why require renters insurance?

Requiring your tenants to purchase and maintain personal liability coverage throughout their lease helps protect you.

Imagine that Rebecca in apartment 2A causes an electrical fire that spreads, causing damage to Paul’s apartment in 2B. Who is responsible for covering these losses? It’s a tricky situation and one that can be avoided by making sure that all of your residents purchase renters insurance.

Renters insurance helps reduce the cost of damage caused by your residents, minimize complaints among residents as a result of damages caused by a resident’s negligence, and reduce misunderstandings arising from residents who believe the property’s insurance will cover their possessions.

How do I make renters insurance a requirement?

You can make renters insurance a requirement by writing it into your lease and using the lease addendum that we’ve provided.

Having all of your tenants sign the lease addendum will make them contractually obligated to purchase and maintain liability insurance throughout their lease. In the lease addendum, tenants can elect to purchase an annual term renters insurance policy from the provider of their choice, or they can elect to enroll in Assurant’s Point of Lease Insurance Program through the group insurance policy that Assurant has issued to you.

If the tenant elects to purchase an annual term renters insurance policy through a provider of their choice, it is up to you to request proof of coverage and document that in Buildium accordingly. If the tenant elects to purchase Assurant’s Point of Lease Insurance through the group insurance policy Assurant has issued to you, you will be able to enroll the tenant and view their policy information directly from your Buildium account at the point of lease creation.

Because renters insurance is an added expense for your tenants, we recommend that you communicate your renters insurance requirements to prospective tenants as soon as they begin to show interest in a unit. You’re encouraged to download, print, and share information about Assurant’s Point of Lease Insurance as highlighted in the brochure.

What are the benefits of Assurant’s Point of Lease Insurance?

As a property manager, Assurant’s Point of Lease Insurance gives you peace of mind. When tenants elect to purchase their own insurance, there is no way of knowing if they have canceled the policy before their lease has ended. With Assurant’s Point of Lease Insurance, you will be able to enroll tenants and view proof of coverage directly from your Buildium account.

As a resident, Assurant’s Point of Lease Insurance is a great option for a number of reasons. Tenants will automatically be approved for coverage. There are no credit or claims history checks, and there is no social security number required.

Assurant’s Point of Lease Insurance provides personal liability coverage (which protects against resident-caused damages to the property of others resulting from fire, water, smoke, and explosion) in an amount of $100,000 and personal property coverage in an amount of $10,000.

In addition, Assurant will always issue claims checks for the replacement cost versus the depreciated cost of lost or damaged property. They also provide Theft Protection, which means your residents are fully covered for burglary and theft. Under some other renters insurance policies, if there is no proof of forced entry, losses won’t be covered. This is not the case with Assurant’s Point of Lease Insurance.

Lastly, Assurant’s Point of Lease Insurance is affordable at $14.50 per month in most states*

*The cost for Assurant’s Point of Lease Insurance is $14.50 per month except for in Georgia ($15.00 per month) and Utah ($16.00 per month).

How do I set my tenants up with Assurant’s Point of Lease Insurance?

Enrolling your tenants in Assurant’s Point of Lease Insurance is simple. Once they’ve signed the lease addendum, you’ll be able to enroll them in Assurant’s Point of Lease Insurance with the click of a button.

Simply go to add a lease, select the renters insurance option, and create the lease.

Your tenants (up to four) will be automatically enrolled in the Assurant’s Point of Lease Insurance Program. Buildium will send a ping to Assurant to let them know that your tenant has been enrolled, and you’ll see the policy number appear within the Leasing page.

In a few days, enrolled residents will also receive a package from Assurant that contains more information about their policy.

NOTE: You will only be able to enroll tenants when a new lease is created.

How are my tenants charged for Assurant’s Point of Lease Insurance?

Your tenants will be billed automatically by Buildium. Buildium will create a recurring charge for the lease which will add a monthly charge to your tenants lease ledger based on the policy start date. This charge will cover the upcoming month’s policy.

For example, if the policy starts on 7/3, you will see a charge entered on the lease ledger on the third of each month. This charge will cover the policy period of 7/3 to 8/3 and will repeat monthly until the lease has ended.

To ensure compliance with federal and state regulations, your tenants must be refunded if they cancel their policy before the renewal date is up. This means that you may see a credit entered if and when the policy is canceled or the tenant list changes (see below for more information on the tenant list changing).

An example of this might be a scenario where one tenant moves out early. When the tenant list changes, we’ll cancel the policy and reissue a new one for the remaining tenants. If the policy renewal date is 7/3 (covering 7/3 to 8/3) and the tenant list changes on 7/18, you’ll see a credit entered on the lease ledger to recompense the tenants for the unused days of 7/18 – 8/3 in the policy. In this case, because some tenants are staying in the lease and we’re reissuing the policy, a new charge will be added to the lease to cover 7/18 – 8/18. This also means that the policy renewal date will now be the 18th of every month instead of the 3rd of every month.

When your policy cancels entirely and no tenants remain (such as when the lease has ended), you may also need to issue a refund to the tenants if the policy has ended on a date other than the renewal date. If a refund is required, you will receive an email notifying you of the refund amount, and you’ll see a credit on the lease ledger for the same amount. The credit must be offset with the refund to ensure that the ledger is accurate. You’ll need to issue the refund so that your accounting is accurate to the real world refund.

Can I change the cost to my tenant?

You cannot change the cost to your tenant as the prices are set by state insurance regulators. Reducing or increasing the insurance charges are strictly not allowed.

When and how will I be billed for these policies?

Since this is a pass-through cost, we want to ensure you have enough time to collect all of your renters insurance payments before we bill you. For this reason, you’ll see a one month delay between the time that a charge is entered on a tenant’s ledger and when you are billed for that policy.

For example, if a tenant’s policy starts on 7/31, you will see the bill for this on 9/1, giving you enough time to collect the payment from the tenant.

What if a tenant cancels?

If a tenant needs to cancel their Assurant Point of Lease Insurance policy, you will need to end their lease in Buildium and create a new lease without the Assurant Point of Lease Insurance Program Option.

What if a tenant moves out (or a new tenant moves in)?

Let’s say you have four roommates on a lease, and one of them decides to move out. What happens to the insurance policy?

You can move the tenant out just as you normally would. Assurant will automatically be alerted of this change, cancel the existing policy, and create a new policy for the remaining tenants on the lease.

If this tenant list change occurs on a date that does not match the policy renewal date, you will see a credit on the tenant ledger reflecting the unused days in the previous policy billing period and a new charge for the new policy.

If a new tenant moves into the unit on the same lease, simply add him or her to the lease as usual and the same cancellation and reissue actions will be triggered as in the above scenario.

Please keep in mind that it may take up to 6 hours for these changes to be reflected on the lease summary page under the renters insurance section.

For more information on how to handle outstanding credits, see above. (Q: How are my tenants charged for Assurant’s Point of Lease Insurance)

What do I need to do at the end of a lease?

Policies are tied to the lease active dates in Buildium and per your marketing agreement with Assurant, all tenants need to be covered based on their physical occupation of the unit. This means that when a lease has ended, you will need to make sure that you accurately move tenants out in Buildium on the day that they have actually moved out in the real world. This will ensure that they are always covered for the duration of their physical tenancy.

Please note that if a lease expires, the renters insurance policy will be canceled, so you’ll want to make sure that any leases about to expire are accurately updated to reflect the new status of that lease or the tenants. For example, if the tenants are staying an extra day or two, extend the lease end date to match their physical move out date. If the tenants have moved out already, use the End lease action to move them out in Buildium and place the lease in a Past state.

What happens when an accident occurs?

If an accident occurs, you should contact Assurant Claims Customer Service at 1-800-358-0600.

What happens if I add a new property to my portfolio?

When you add a new property to your Buildium account, the property details will automatically be sent to Assurant for inclusion in your group insurance program. You may see a delay of up to 24 hours before you can enroll a tenant in the Assurant Point of Lease Insurance Program for the new property.

What if I sell or one of my rental owners sells a property?

If the property being sold will no longer be managed by your company, you’ll need to notify Assurant 45 days ahead of the closing date by sending an email to You’ll want to include the property name, date of sale, and an attachment that outlines the policies (tenants) affected. State by state regulations require that Assurant notify your tenants as far in advance as 45 days when their insurance policy will be canceled due to the property being sold to another rental owner outside of your management portfolio and is no longer being covered under the group policy.

Be sure to email Assurant with the Subject: Buildium – Pending Property Sale Notice and in the body of the email, include: (Property Name) has a pending sale date of xx/xx/xxxx. Please send notice to the policies in the attached spreadsheet.

All properties under your management portfolio are covered with Assurant’s Point of Lease Insurance group policy, so if the property being sold is retained under your management, you do not have to notify Assurant that the property is being sold to another owner.