Renters Insurance

Renters insurance is necessary to help protect residents in the event of loss. This includes, but is not limited to: Fire, Flood, Weather Damage, etc. For more information on which events are covered by renters insurance, we advise you to speak with an insurance professional.

Option 1: Book a renters insurance policy through the insurance carrier of your choice.

• Cost varies depending on provider and the amount of coverage desired.
• Personal Property is covered in the event of loss (up to amount stated in policy).
• IMPORTANT: This policy may not cover the building deductible, which could result in resident's being responsible to pay the property insurance deductible (up to $25,000). Please provide your insurance provider with the requirements listed in the Renters Insurance Agreement (pages 6-7) prior to signing up for coverage. This will ensure that all requirements are met.
• This policy must remain in place through your lease term, and residents are required to provide proof of coverage through their AppFolio Resident Portal.
• How to upload personal coverage.

Option 2: Sign up for renters insurance through FolioGuard™.

• Cost varies depending on property and amount of coverage desired.
  • Minimum Plan (lowest tier)
  • Standard Plan (middle tier)
  • Premium Plan (highest tier)
• Personal property is covered in the event of loss (up to amount stated in policy).
• The minimum plan covers property loss up to $100,000 and covers the property insurance deductible (up to $25,000). This plan will meet the requirements stated in the Renters Insurance Agreement.
• Proof of coverage is automatically submitted to Young America upon registration.
• How to register for FolioGuard™ coverage

Option 3: Be automatically enrolled in a Landlord Liability Insurance Program "LLIP"

• Residents who do not provide proof of coverage through one of the options listed above will be automatically enrolled in this plan.
• Cost is $12.50/month (as of Janaury 1, 2024. subject to change). $10.50/month for coverage, plus, a $2.00/month processing and handling fee.
• Personal property is NOT covered in this plan.
• This plan covers use of loss on the property up to $100,000, and it will cover the property insurance deductible (up to $25,000). 
• Charges for this plan will show up on the residents account ledger each month as two charges. One charge for the $9.50 coverage, and $2.00 for the admin processing and handling fee.

The specific things covered under renters insurance varies from policy to policy. For more information on what is covered under your renters insurance policy, please speak with your insurance company, or refer to your policy for more information.

Be advised that renters insurance does not cover general damage done to the unit. Renters insurance only covers loss due to a major event, such as, a fire, flood, etc. 

Although the property is covered by the owners property insurance, one, your personal property is not covered. Two, if the resident is found to be at fault, residents could be responsible for paying the building deductible, as well as costs of repairs inside of the unit.

FolioGuard™ is insurance coverage provided through our property management system AppFolio. Upon registering, the policy information will be automatically submitted to Young America.

For information on how to sign up for FolioGuard™, please click the link below!

Signing Up For FolioGuard™

If you would like to obtain Renters Insurance through a 3rd party company, you are free to do so! We would advise you to ensure the policy meets the requirements mentioned in Renters Insurance Agreement (pages 6-7) signed with the lease.

Examples of 3rd Party Insurance:

• State Farm
• Country Financial
• Farmers Insurance
• Lemonade
• Nationwide

Follow the link below to see how to submit your renters insurance policy!

Upload your 3rd Party Insurance Policy

LLIP is short for the Landlord Liability Insurance Program. Residents who have not provided proof of renters insurance to Young America are auto-enrolled into this program. In the event of loss, this program will cover the building insurance deductible, and residents will not be responsible for covering that cost out of pocket. However, this program does not cover residents personal belongings. 

Residents will be charged $12.50/month (as of 1/1/24. Rates subject to change) for this policy, and this will show as two seperate charges on the resident's ledger. One charge of $10.50 and another charge of $2.00 for the admin processing and handling fee. 

We advise getting a renters insurance policy that covers the specified apartment. While the homeowners policy may cover the apartment, it may not meet the needs stated in the Renters Insurance Agreement. This could result in the residents being responsible for costs associated with loss. Such as, the building deductible and loss of use costs.

If you choose to use a parents homeowner's policy, please be sure that all of the requirements stated in the Renters Insurance Agreement (pages 6-7). If you have questions on whether or not you have met the requirements, please speak with your insurance agent.

No, Young America should not be listed as an additonal insurer.

However, Young America Realty should be listed as a Certificate Holder, or an additional interest party.