Rentec Direct clients now have access to Tenant Legal Liability insurance (TLL) coverage through our integrated partner, Sure. Rentec Direct clients interested in learning more about the Tenant Legal Liability program can reach out to success@rentecdirect.com for access to this Rentec Labs product.
As landlords and rental experts ourselves, your team at Rentec Direct understands the stress and expenses that can come with tenant-caused damage. That is why we are excited to announce a new feature that can help ease the burden of risk.
Rentec Direct clients now have access to Tenant Legal Liability insurance (TLL) coverage through our integrated partner, Sure. Sure has been an integrated partner since 2017, offering renters insurance to your tenants right in the tenant portal, ensuring a seamless sign-up process for your tenants. Now, Sure offers a new kind of coverage: Tenant Legal Liability insurance (TLL), which is designed to help protect landlords when tenants do not maintain active renters’ insurance.
Learn more: What is Tenant Legal Liability Insurance?
Tenant Legal Liability Insurance for Your Rental Properties
Unfortunately, tenant-caused property damage is one of the most common financial challenges landlords and property management companies face, and it happens even with well-screened tenants. One of the first lines of defense against expenses from accidental tenant-caused damage is requiring renters insurance at your properties.
However, many tenants lack renters insurance entirely, and those who do may carry insufficient liability limits or face policy cancellations for nonpayment. These circumstances can make it very difficult to obtain reimbursement directly from tenants themselves in cases of excessive damage.
TLL doesn’t replace renters insurance. Tenants still need their own policy for their belongings and personal liability, and requiring one remains your first line of defense.
How does TLL through Sure work?
Tenant legal liability insurance (TLL) is a property damage liability program designed to help protect landlords, property managers, and property owners from financial losses caused by accidental tenant damage, subject to policy terms, limits, and exclusions. Unlike renters insurance (which tenants purchase and pay for themselves), tenant legal liability insurance is a policy obtained and paid for by the landlord or property manager.
For enrolled units, TLL coverage applies when a tenant does not provide proof of qualifying active renters insurance, including when a tenant’s own renters insurance lapses or was never in place. Depending on your lease terms and applicable law, landlords may be able to pass the cost along to tenants who did not comply with a renters insurance requirement, and Rentec Direct can help you manage that process.
We sat down with TLL coverage experts at Sure to review the TLL program and how it works within the Rentec Direct platform. You can see a recording of the conversation in the video below.
How does TLL work in your Rentec Direct Account?
Rentec Direct’s integration with Sure makes it easy to monitor and manage renters insurance requirements, using Sure Verify, an AI-powered compliance verification tool. For tenants with a renters insurance policy, the system sends clear alerts when insurance documentation is uploaded, when policies expire, or when policies are nearing expiration.
For units enrolled in TLL, if a resident doesn’t provide proof of a qualifying renters insurance policy by the required deadline, including when a policy lapses or expires, TLL coverage is obtained for that unit.
Interested in Tenant Legal Liability Insurance with Rentec Direct?
If you are interested in learning more about the Tenant Legal Liability program, please reach out to success@rentecdirect.com for additional materials and access to Sure.
*About Rentec Labs – If you see our lab beaker next to a feature or page within Rentec Direct, it indicates that the feature is new and just leaving the “lab” (aka our software developers’ workshop). A feature included in Rentec Labs has already gone through rigorous internal testing; however, since it is a big new feature it may have had limited testing outside of our offices. Once the feature has been in use externally for some time with no issues, it will leave Rentec Labs.
Insurance products described herein are underwritten by Republic-Vanguard Insurance Company, a subsidiary of AmTrust Financial Services, Inc., and made available through Sure HIIS Insurance Services, LLC, a licensed insurance producer. Sure is compensated by AmTrust for its services. This content is provided for general informational purposes only and does not alter or amend the terms, conditions, or exclusions of any insurance policy. Coverage is subject to the language of the policies as actually issued. All coverage descriptions are illustrative and do not guarantee specific coverage outcomes.
