Renters Insurance Requirement at Our Properties

Why do I need renters insurance?

Renters insurance is required to ensure that you have liability coverage of at least $100,000 throughout your tenancy. This protects both you and the property owner from potential liability claims.

What happens if I don’t secure renters insurance?

If you fail to secure renters insurance, we will activate a landlord liability insurance policy on your account. This will result in a monthly fee for this insurance and an additional administrative fee.

How can I avoid the additional fees?

You can avoid these fees by obtaining your own renters insurance policy. You can purchase it from any provider in the marketplace or through Appfolio within your Online Portal >>

What’s the difference between renters insurance and landlord liability insurance?

Renters insurance covers your personal belongings and provides liability coverage. Landlord liability insurance only covers liability and does not protect your personal belongings.

Why should I get my own renters insurance?

By securing your own renters insurance, your personal belongings will be protected against loss due to events such as floods or other disasters. Landlord liability insurance does not offer this protection.

How do I provide proof of my renters insurance?

You need to upload a certificate of insurance to your Online Portal . If you prefer to send it to our staff for uploading, a $4.50 administrative fee will be assessed. To avoid this fee, upload the certificate yourself.

What should be included in the renters insurance policy?

Your renters insurance policy must name the owner of the rental as the insured, not Full Circle Property Management. Use the following address:

{Owner’s Name}
Care of Full Circle Property Management
P.O. Box 4057
Burlington, Vermont 05406

Where can I find the Owner Name for my rental?

You can find the Owner Name of your rental by reviewing your written lease agreement, which is a shared document in your Online Portal .

Is this requirement only for the beginning of my tenancy?

No, maintaining renters insurance is required throughout your entire tenancy. If there is a lapse in coverage or if you forget to upload a renewal policy, administrative fees and landlord liability insurance fees will be automatically added to your monthly statement.

Can these fees be refunded if I later provide proof of insurance?

No, these fees cannot be refunded. However, once you provide proof of renters insurance, the additional fees will be automatically eliminated moving forward in the next month.

Where can I purchase renters insurance?

You can purchase renters insurance from any provider in the insurance marketplace or through Appfolio’s renters insurance with your Online Portal .

Who can I contact if I have questions about insurance products?

Full Circle Property Management does not answer questions about specific insurance products. For more information, please visit the Appfolio insurance website or the websites of any insurance carriers you are considering.

Why is renters insurance beneficial for renters?

Renters insurance is beneficial for renters because it provides protection for personal belongings against loss or damage due to various events such as theft, fire, or natural disasters. It also provides liability coverage, which can help cover legal costs if someone is injured in your rental unit or if you accidentally damage someone else’s property.

How does liability or renters insurance benefit both renters and landlords?

• For Renters: Liability insurance ensures that you are financially protected in case you are held responsible for accidental injuries or damages. This can prevent significant out-of-pocket expenses and provide peace of mind.
• For Landlords: Requiring liability insurance helps protect the property and reduces the risk of disputes and financial loss due to tenant-caused damages. It ensures that tenants are responsible for their actions, promoting a safer and more secure living environment.

What additional information might be helpful?

• Coverage Details: Ensure that your renters insurance policy covers personal belongings, liability, and any additional living expenses if you are temporarily displaced due to a covered event.
• Policy Limits: Review and understand the policy limits and deductibles to ensure you have adequate coverage for your needs.
• Discounts: Inquire about any available discounts, such as bundling renters insurance with other insurance policies (e.g., auto insurance).

We appreciate your cooperation in meeting this requirement and ensuring a safe and secure living environment for everyone.