Resident Liability Program Clause Samples

Resident Liability Program. During the Term of the Lease, Tenant is required to secure and maintain a liability insurance policy, in an amount of not less than $100,000.00 (“minimum required insurance” or “MRI”), and Landlord (and, if Landlord has a property manager, the manager) must be named as an additional insured and interested party on this policy. Tenant agrees and acknowledges that the insurance mandated herein is not a renter’s insurance policy and does not cover any of Tenant’s personal belongings, additional living expenses, or liability arising out of bodily injury or property damage to any third party. If tenant wishes to opt out of this “RL” policy, an opt out form can be requested and completed through the tenant resources section of ▇▇▇▇▇▇▇.▇▇▇ or through email at ▇▇▇▇▇▇▇@▇▇▇▇▇▇▇.▇▇▇. If Tenant fails to provide Landlord with evidence of MRI, the MRI required by this Agreement may be satisfied by Landlord scheduling the Premises for coverage under the Resident Liability insurance policy (“RL”), at a cost to the Tenant of $12.95 a month. □ Enroll me in PMI Resident Liability Insurance = $12.95 per month $100,000 Liability $5,000 personal property $0 deductible □ I have my own insurance policy and request to opt out Steps that must be taken include: