Renters Insurance, powered by MSI, is now available for residents to purchase directly within the resident site. Protect your properties, and your residents, with a policy trusted by over 300,000 renters nationwide. And there’s no extra work on your end—all you have to do is encourage your residents to sign up!
|With Renters Insurance, powered by MSI we take policy management off your plate so you can simplify your leasing process, save time, and make renters insurance easy and accessible for your residents. Learn more below:|
MSI is one of the property management industry’s leading insurance providers underwritten by two A-rated carriers and work with property managers representing 10 million units nationwide. We’ve partnered with MSI to bring you a comprehensive renters insurance solution that will take policy management off your plate so you can simplify your leasing process, save time, and make renters insurance easy and accessible for your residents. With this new offering, residents have the ability to purchase insurance policies right through Buildium’s newly redesigned resident site.
Benefits for Property Managers:
Benefits for residents:
Resident reminders – Your automated solution for renters insurance.
With resident reminders, we make it easier to implement a renters insurance program or requirement for your residents by solving the number one pain point our customers identified: following up with residents to make sure they purchase a policy or provide proof of coverage.
Protecting your properties shouldn’t require endless phone calls, email follow-ups, and chasing your residents just to get a handful of them to get insurance coverage. To save you the headache and give you time back, we built an automated process for you with resident reminders.
Renters insurance reminders will:
All policies automatically include personal property coverage, liability coverage, guest medical expenses and emergency living expenses. And personal property coverage includes a wide range of events including:
We are continuing to build on these coverages to bring you and your residents even better protection.
Water backup coverage is one of the most requested additional coverages nationwide. That’s why we are now including water backup* coverage by default for all policies.
Later this year we will also be introducing new optional endorsements that will give residents a chance to get coverage for pet damage or bed bug protection and can each be added individually to their overall renters insurance coverage during the checkout process.
*Note: Water backup coverage is optional in Maryland in accordance with state regulations.
To get started with Renters Insurance, powered by MSI, all you have to do is make sure your residents have access to the Resident Center. Residents will be able to log in to the Resident Center and purchase a new policy or enter their existing policy information from an alternate provider. Policy information will be synced to your Buildium account in real time and can be viewed on the lease summary page.
Please note: renters insurance policies will be available to residents in the United States only.
We have provided a sample lease addendum to include a requirement for renters insurance with your lease agreement. By having your tenants sign a renters insurance lease addendum*, they will be contractually obligated to purchase and maintain a renters insurance policy throughout their lease. We recommend that you consult a licensed lawyer and update this addendum to ensure that you are in compliance with the appropriate laws and regulations regarding your lease before using this addendum.
*This sample lease addendum is provided for informational purposes only. It is not legal advice. You should consult your own attorney. Neither Buildium nor its counsel represent you, nor have either offered you legal advice. Certain jurisdictions may not allow the addendum as drafted, and it may not be appropriate for your purposes.
Getting started guide for renters insurance: Send your residents a step-by-step guide that shows them how to purchase a new renters insurance policy or provide proof of coverage through the resident site.
Email template— Sample email copy to let your residents know about Renters Insurance powered by MSI. We recommend using this as a starting point and customizing the content for your needs.
Renters Insurance Video for residents: Send this quick introduction video to your residents that explains the importance of having a renters insurance policy and how easy it is to sign up for Renters Insurance, powered by MSI.
Do I have to use MSI for renters insurance?
When can my residents start purchasing polices through Renters Insurance, powered by MSI?
Who is MSI?
What if I don’t want to offer Renters insurance powered by MSI to my residents?
Can my residents purchase an MSI policy before August 20th?