Renters Insurance

Rentec Direct property management software allows you to establish renters insurance requirements and track insurance status. Rentec Direct has partnered with Sure to offer tenants the option of purchasing insurance from leading providers like Nationwide, Chubb, Markel, AmTrust, QBE, Hartville, Marsh, and Assurant directly through their portal.

For more information about Sure and other integrated features, click this link: Integrated Features | Insurance Needs

Preparing Your Account to Require Insurance

There are two steps in preparing your Rentec Direct account to require and track the status of tenants renters insurance:

  1. Setting program defaults that will affect all tenants
    1. Allows tenants to purchase insurance in the Tenant Portal
    2. Indicating how many days before insurance expires you would like to be notified on your summary page
  2. Indicate in each property the renter's insurance requirement

Setting Program Defaults for Required Insurance

There are two program defaults that affect the renters insurance processes: determining how far in advance you would like to be advised that a tenant's insurance is expiring and allowing permission for tenants to purchase insurance through their portal.

The following steps will walk you through establishing the default settings for renters insurance.

In your Rentec Direct account: 

  1. Click on Settings
  2. Under Program, choose Program Defaults
  3. Under Summary Display Options, indicate how many Days before lease expirations to show notice reflecting when you would like to be notified on your summary page
  4. Scroll down to Portal Settings and indicate Yes for Tenant Portal: Allow tenants to purchase insurance in the Tenant Portal. Even if you don't require insurance, the tenant still has the option to purchase it through Sure 
  5. Click Save Changes

For more information on program defaults, click this link Program Default Settings | Preferences

Setting Insurance Requirements in Properties

Insurance requirements are available for each property. Once you've identified the properties that you will require renters insurance for as well as the amount, the following steps will walk you through setting your required amounts.

In your Rentec Direct account: 
  1. Click on the Properties tab
  2. Right-click on the Property and choose Edit Property
  3. In the Financial section, using the dropdown for Renters Insurance Required, select the property's insurance requirements 
    1. If you would like to allow tenants to purchase insurance online via the Sure app insurance portal, choose the 100,000 option. Making this selection will reveal a link in the tenant portal to apply for insurance
    2. If you require an amount of 250,000 - 1,000,000, it tells the system that the tenant will be submitting documented proof of insurance obtained through another agency and will reveal a link in the tenant portal to upload their documents
    3. If None is selected, the tenant will not be required to purchase insurance, but will still have the option 
  4. Click on Update Property
Important Note:  $100,000 is the most common required amount for landlords of single-family and multi-family dwellings and is currently, the only option offered by Sure. If you require your tenants to have more than $100,000 in liability insurance, they will be prompted to upload proof of coverage from their own carrier via the Tenant Portal.

Tenant Portal Renters Insurance Options

Now that the program defaults and property insurance requirements have been set, when the tenant logs into their portal, they will have the option to purchase insurance or submit insurance documents.

Renters Insurance

Insurance Required Notifications

When a tenant's insurance expires within the number of days indicated in your program defaults, there will be an indication on the summary page in your Rentec Direct account.
These steps will walk you through where the notification will be reflected.
In your Rentec Direct account:
  1. Click on the Summary tab
  2. Scroll to the bottom of the screen to Quick Access
  3. Click on Insurance Required for details 

Renters Insurance

Renter Insurance Details

Once a tenant has purchased insurance through Sure, a temporary policy is created with Sure and their insurance information is automatically updated in the Tenant Portal.
If a tenant has provided proof of insurance, their insurance information will need to be manually updated using the information from the policy provided. The tenant may bring you a physical copy or upload it through the Tenant Portal.
To view a policy uploaded through the Tenant Portal,
In your Rentec Direct account:
  1. Click on the Tenants tab
  2. From the Tenant List, right-click on the Tenant and select File Library
  3. Click on the file to view the policy

To update the tenants insurance information;

In your Rentec Direct account:

  1. Click Tenants
  2. From the Tenant List, right-click on the tenant and select Edit Tenant
  3. Scroll down to Insurance Information
  4. Click on Edit Insurance to pull up the edit screen
  5. Enter updated information and SAVE
Edit Insurance
Note:  If you would like to waive insurance requirements for specific tenants in a property, uncheck the Insurance Required checkbox.

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