Property Management

Sorting Through and Solving Renters’ Insurance Loopholes

by Paul Bergeron

Renters’ insurance is a standard requirement for apartment dwellers across the country. However, compliance is an enduring pain point for apartment operators, from meeting compliance to optimizing insurance tracking.

While many renters have adequate policies that meet community requirements, a notable number don’t; it’s too easy for residents to fly under the radar without it.

Most operators require documentation upon move-in that proves a resident has coverage should unexpected events occur. But there are loopholes. Sometimes residents cancel a policy after moving in and others forget to renew. Although operators are aware of uninsured residents, it’s historically been incredibly difficult – nearly impossible – to know exactly when a policy is canceled or no longer valid without a full audit.

Read Paul Bergeron’s article in GlobeSt.

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