Topic: Is there a renters insurance company that shares profits or commissions of some sort?

Question for all my industry experts
Is there a renters insurance company that shares profits or commissions of some sort? If so what companies?
Thank you so much in advance!!!

eRenters

EPremium

Highly recommend LeaseTrack

Marketing fee. Can’t share premiums as you can’t make insurance money unless licensed for insurance but companies can pay a marketing fee. ERenters does.

eRenters Plan

This is slightly off topic, but we stopped accepting Farmers as renters insurance. Turns out their renters policies do not cover anything related to the rented property, so they are worthless from an owners/managers standpoint. If a tenant starts a fire, for example, a Farmers renters policy will pay for the resident’s possessions but not for any of the unit or building damage.
Something to consider, not all renters policies provide the coverage you think they should.

David Troup the insurance we require is 100,000 liability. Are you saying that Farmers won't cover that amount even if it states that on the policy?

Kathy Winfrey Chaney At least on their Texas policies, they disclaim any coverage for rented property. So even though the coverage amount looks fine, in the event of a loss they will not cover the apartment in any way. We didn’t find this out until we had a big loss and the resident's insurance was with Farmers.

David Troup very interesting to know. I will let corporate know this. Thanks for the info as I am in texas.

RLL & MFI

If you have MRI they have a product backed by assurant that offers ancillary income

We use Stern Risk. Love it!

Try getflamingo.com
for a resident engagement app and automated move in that prompts residents to get insurance through the app and the marketing fee is shared with thr building.
Other higher paying revenue opportunities on the app includes concierge services like house cleaners, personal trainers, TV mounters etc.

Elevatedliving.com
Elevatedliving.com has this built in to move in checklist

ERenters Plan and lease track are the two that I have worked with.

Asset protect

We use Erenter plan. Linked with our Realpage make life easy

Thank you everyone!!! I guess something’s have changed with renters insurance. I know just a couple yrs ago when I was still on site I was able to make several claims and be paid from renters insurance companies that residents had.

Assurant, epremium, Yardi, RP- make sure you get one with both liability and personal contents for the highest participation and positive resident experience.

Realpage is definitely the way to go. All revenue for your pmc at no cost what so ever.

Check out Foxen! They have a great renter's insurance program with the $ back to the property PLUS they do all the heavy lifting on ensuring renter's have the insurance- meaning a leasing agent or PM doesn't have to chase down the COI from the resident (if they've chosen to not use Foxen). WIN-WIN!