Tenant’s protection coverage

Tenant’s protection coverage is a unique insurance option that helps both tenants and landlords.

It protects against sudden and unintentional damage that tenants cause to the property they’re renting. It also grants landlords the option to submit a claim for that damage against their tenant’s policy and receive payment directly.

Typically, tenant insurance policies don’t cover damage to the landlord’s property unless the tenant’s liability can be clearly proven. And even then, coverage is often limited to fire- or water-related damage.

With tenant’s protection coverage, tenants can rest assured knowing they won’t be out-of-pocket for damage they accidentally cause to their landlord’s property. That includes dropping a heavy pan on a glass-top stove, finding the kids have covered the walls in permanent marker, or all sorts of other accidental, unpredictable damage.

Normally, if a tenant accidentally damages their landlord’s property, there are few insurance options available to cover the cost of repairs. No insurance coverage means the landlord will make the tenant pay, or forfeit their damage deposit.

With tenant’s protection coverage, the landlord can submit a claim against their tenant’s insurance policy. If the claim is covered, the tenant will only have to pay their deductible, and the policy will cover the remaining repair cost.

The best part?

Unlike most insurance claims, submitting a claim under tenant’s protection coverage will not affect the tenant’s nor the landlord’s insurance premiums with Square One. It also has no effect on future insurance renewals or applications with us.

This is replacement cost coverage, meaning that it will cover the cost of replacing damaged property with brand-new property of similar kind and quality. That includes installation costs—which can be significant, depending on the nature of the repairs.

Tenant’s protection coverage is an optional add-on to tenant insurance policies, and costs as little as $2.50/month. Coverage limits start at $5,000, but you can choose a higher limit of coverage for greater protection—all the way up to $50,000.