This article was posted on Saturday, Feb 01, 2020

Why Do My Tenants Need Renters Insurance? 

Fire, explosion, smoke, and water damage are just a few examples of the types of losses caused by tenants.  Did you know that:

  • The average amount of damage caused by an apartment fire is $11,000. 
  • There are 103,000 fires set annually by tenants residing in multi-family units. 
  • 70% of all fires are started in the kitchen. 
  • Most renters do not carry enough coverage or have sufficient funds available to cover damage as a result of their negligence.

 What are the Coverage Options? 

Policies are customizable. We offer the following options:

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  • Personal Property Coverage: $5,000 – $100,000 
  • Liability Coverage Options: $25,000, $50,000, $100,000 and $300,000 
  • Guest Medical Payments: $1,000 per person, $25,000 each occurrence 
  • Water Back-Up and Sump Discharge or Overflow 
  • Pet Damage Endorsement 
  • Identity Fraud Expense 
  • Increased Coverage for Jewelry 
  • Tenants plus Package 
  • Earthquake – California only 
  • Stand Alone Liability Policy is available for tenants who do not want to cover their personal property. 

What Does a Renters Insurance Policy Cover? 

Some of the perils covered by a renter’s policy include:

  • Fire or Lightening 
  • Windstorm or Hail 
  • Theft 
  • Explosion 
  • Volcanic Eruption 
  • Freezing 
  • Vandalism 
  • Weight of Ice, Snow or Sleet 

How Does a Renters Insurance Program Help My Community? 

  • Renters insurance allows the tenant to be financially responsible, which reduces the number of nuisance claims filed on the property owner’s insurance. 
  • Having a community where a number of residents participate in a renter’s insurance program could help you save money on your general liability policy. 
  • Property managers can file claims directly against the tenant’s policy, with a company the property manager already works with. 

How Does a Renters Insurance Program Benefit My Tenant?

  • Tenants will be able to be reimbursed up to their policy limits, for covered losses. 
  • Replacement cost on all contents with a complimentary qualified ENERGY STAR appliance upgrade. 
  • Guest Medical Payments – for guests who may injure themselves while visiting. 
  • Loss of Use – for living expenses if the unit becomes uninhabitable due to a covered loss. 
  • Personal liability for protection from a lawsuit if someone is injured in the unit. 
  • One policy covers all roommates and boarders who live at the residence and are listed on the lease or rental agreement on the date of loss. 

How Do I Get Started? 

Contact AOA’s Group Insurance experts today at (800) 827-4262, email  [email protected] or visit

GS Insurance Solutions is the exclusive endorsed broker for the Apartment Owners Association of California, Inc.  For more information on the full area of products and services we offer tailored to your specific needs, please call Anthony Miller or his team at 800-827-4262, email him at [email protected] or visit