Resident Insurance Basics

What you need:

  • A policy from a company who specializes in renters and their needs

  • An affordable, competitively priced policy specifically for renters

  • Liability insurance - the minimum policy to meet the lease requirement or

  • Renters insurance to cover both liability and your belongings

  • The right amount of coverage for your belongings

  • Coverage that replaces your items with new belongings (replacement value)

  • A strong and experienced insurance backer who pay claims promptly

  • A simple solution - don't waste hours of your time on this task

Multifamily Insurance Partners

.....checks all the boxes

Sometimes the best, most convenient the one right in front of you

Why Does My Community Require Liability Insurance?

Living in a community that requires liability insurance provides peace of mind as everyone has the backing of an insurance company in the event of an accident or incident.


If your upstairs neighbor leaves water running in the tub and it overflows causing damage to your belongings? Since your neighbor is responsible, his insurance will pay for damage. 


Renters are financially responsible for damage caused to the property as a result of their negligence. For example, if you accidentally flood the apartment, you AND your parent or guarantor are legally responsible for all the damage. In addition, you can be held liable for any damage caused to your neighbor’s personal  property and the building.

What are my Basic Insurance Options?


With liability coverage as required by your lease, you are financially protected if you are liable for damage caused to the apartment of the property of others. Liability coverage pays the community or neighbors for damage caused as a result of Fire, Smoke, Water Damage and Explosion. (see policy for specific coverages) It doesn't cover your personal belongings, but is highly affordable - $129/year (with a $0 deductible) and is a low cost option.


Renters Insurance, which adds protection for your belongings, covers things like Fire, Explosion,  Smoke, Vandalism, Theft etc. ( For a detailed listing of covered perils, please refer to the policy.) Protecting your belongings may cost a few more dollars per month but offers many benfits. Policies from Multifamily Insurance Partners let you customize your coverage choices and payment plans to meet your budget and protect the value of your property. 

Why Choose Multifamily Insurance Partners?

MFIP is an insurance agency that works exclusively with renters and rental properties. Our coverage options are designed to allow you to find a quality, low cost policy and customize it to your exact needs. For over 25 years, our principals have worked to enhance the lives of millions of renters throughout the US. 


Our products are backed by underwriters with a Rating of “A” (Excellent) by A.M. Best Company, an organization that rates insurance companies based on financial strength and operating performance. They are all part of Fortune 500 companies, offering the financial strength you can count on.

How do I show proof of insurance to the Community?

You must submit proof of a minimum of $100,000 personal liability before you will be allowed to move-in. Proof of coverage may include a copy of a Declaration Sheet (must have students name and the Owner/Manager entity from your Lease listed as an "interested party"), a Certificate of Coverage (must have student’s name and and the Owner/Manager entity from your Lease listed as an "interested party") or a confirmation of coverage letter from the insurance agent or company.


if you purchase from Multifamily Insurance Partners, either a liability policy or renters insurance, you do not need to worry about arranging for interested party language, as it is automatically included with your policy. 

Fun Fact

As early as 3000 BC, Chinese traders devised ways to share risk and the concept of insurance can be found as early as 1772 BC in the laws of the First Babylonian Empire. In our modern times, almost all US states require drivers to have liability insurance to protect others in the event of an accident.  Likewise, rental and student housing communities now have personal liability requirments in the rental agreement, carrying on the smart risk reduction traditions of the Chinese, Babylonians and motorists everywhere.