Ramey King has provided a specialty insurance for residential and apartment properties for many years. One of the continuous challenges to owners of these properties are claims that are caused by a tenant and can vary in scope. Common claims from tenants include grease fires, cigarette fires, or just general issues caused by the tenant themselves. We strongly suggest that tenants acquire renter’s insurance to be able to address these types of claims. A renter’s policy is easily obtained from most insurance agencies and can also be combined with an auto policy for additional premium savings. Unfortunately, many tenants just don’t arrange the coverage they need. It is often assumed that the landlord is protecting them, thus, not needing the extra policy. This is a common misconception renter’s have when renting a property. 

Master Renters Program

As a landlord, your hands might be tied. However, there are a couple of options available to protect the property. One is to help tenants recognize the need for renter’s coverage and direct them to purchase said products. A second option available is to arrange what’s called a Master Renters Program for their tenants; a product in which Ramey King can arrange for landlords. With a Master Renter Program in place, one of the first lines of defense is first-party coverage for the perils of fire, water overflow, smoke, explosion and sewer backup. Additionally, all contents inside the rental property are covered.

The program is very affordable and the cost of arranging a Master Renters Program can be passed to the tenant with ease. Additionally, if a new tenant has obtained their own renter’s policy, they can choose to opt out of the program. This is an especially great option for apartment complex owners or landlords with a fleet of properties. Having a safety net such as the Master Renters Program ensures an extra level of liability protection for the landlord from their tenants. 

For more information on the Master Renters Program, contact Ramey King Insurance at 800-453-9691, visit our website at www.rameyking.com or e-mail us at info@rameyking.com. You can also visit our office at 320 Eagle Street, Suite 201, Denton, TX 76201.