New Renters Insurance Vendor Anticipates 25 Percent Decrease of Property's Maximum Loss Risk
November 29 2011
Property Solutions' ResidentInsure provides alternative renters insurance option with policy-status reports for property managers
Property Solutions International, Inc., the largest provider of property management websites and payments, announced the release of ResidentInsure, its new renters insurance product. ResidentInsure was created to give residents an affordable renters insurance policy while providing property managers with detailed reports of their residents' policy status.
Sagebrush Capital Management, headquartered out of Denver and managing 2,619 units, recently adopted ResidentInsure as its preferred renters insurance provider across its entire portfolio."In the past, we've experienced that when it's time to make a claim, some of our residents who have shown proof of insurance at move-in have since canceled their policy or allowed it to expire," said Donald Caster, VP of Asset Management for Sagebrush. "Rather than getting the news at the worst possible time, ResidentInsure keeps us updated on who is currently covered and who is not."
Property Solutions has integrated ResidentInsure with its online payments and electronic leasing systems to simplify processes for management and increase adoption by residents. "The more residents you have signed up under one provider, the easier it is to keep track of residents' coverage," said Brandon Jurkovich, Senior VP of ResidentInsure. "Residents can enroll in ResidentInsure with a simple click while they fill out their lease and can can easily pay their premiums online." By integrating these processes, Property Solutions anticipates twice as many renters will sign up for ResidentInsure than for the average preferred provider.
Property Solutions has also found that by maximizing the number of residents enrolled with a preferred provider, namely ResidentInsure, managers can decrease a property's risk of maximum loss by 25 percent. "On average, 15 out of every 100 residents won't be covered even when a property mandates insurance," said Jurkovich. "ResidentInsure's robust reporting tools will eliminate that risk." Property managers can also upload proof of insurance from other policy providers to ResidentInsure and track all of their residents' enrollment statuses from one place.
About Property SolutionsFounded in 2003, Property Solutions International, Inc. is the nation's largest provider of apartment community websites and a leading developer of innovative property management software tools. The company offers a variety of web based solutions for leasing, rent collection, and maintenance request processing. Property Solutions' web portals and electronic payment processing tools offer the advantage of full data integration with most widely-used property management software packages. For more information, go to http://www.propertysolutions.com.