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American Campus Communities Landlord Required Liability Insurance Program

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Program Overview

As outlined in the Required Insurance Addendum found in your Lease Agreement, residents must maintain insurance covering resident’s legal liability for damage to American Campus Communities (“ACC”) property, with a minimum personal liability limit of $100,000. The policy must list resident’s particular as an additional insured.

There are multiple ways to comply with this lease requirement:

Option 1: Submit Proof to LeaseTrack of Your Own Insurance

If you have insurance with someone other than LeaseTrack, you can submit proof of that insurance below. Your policy and proof of insurance must include all of the following information:

  1. The names of all adults living in the home
  2. Insured address
  3. Policy number
  4. Policy start and end dates
  5. A minimum personal liability limit of $100,000
  6. Your ACC property listed as an additional insured as follows: 
    [Your property name, i.e. Campus Trails]
    PO Box 38060
    Albany, NY 12203

 

Option 2: Your Unit Will Be Automatically Enrolled in ACC’s Liability to Landlord Policy

If you do not choose option 1, your unit will be automatically enrolled in the ACC liability to landlord policy. You will be charged $15 monthly for premium, taxes and administration for, among other things, the expense of processing monthly payments and administering the program. This non-refundable charge is more fully described in the Required Insurance Addendum.

FAQ's

Insurance coverage that protects both you and your property manager/owner.  Unlike a standard renters insurance policy, under this program, a master insurance policy is issued in the name of the property management company, and if you are enrolled, you will be a certificate holder with coverage under this master policy. The master policy will protect you against accidental damage you cause to your apartment or the building (such as a fire).

While the master insurance policy will cover many common losses, the master policy is subject to policy sub-limits and exclusions that could limit available insurance.  

Please note that the actual language in the master policy and all attachments will ultimately determine what is covered and what is not at the time a claim is presented. 

However, we understand that reading an insurance policy can be confusing, so we have highlighted some of the more common situations that may occur and how the master policy may respond.   

Covered:

While limitations may apply, coverage applies on a replacement cost basis resulting from: 

  • Fire or Lightning                  
  • Windstorm or Hail 
  • Smoke                                
  • Accidental discharge or overflow of Water/Steam
  • Explosion                           

Not Covered:
The master policy would not typically insure for loss caused directly or indirectly by any of the following: 

  • Earthquake                         
  • Neglect 
  • Animals or Animal Bites      
  • Freezing 
  • Power
    Failure                      
  • War
  • Intentional Loss                   
  • Governmental Actions
  • Motor Vehicle Liability         
  • Watercraft Liability
  • Business Liability                
  • Illegal Acts
  • Pollutants                           
  • Other (as outlined in policy)
  • Theft (mysterious disappearances) or vandalism
  • Water (from flood, surface water, overflow from body of water, sewer back-up)
  • Such loss is excluded regardless of any other cause or event contributing concurrently or in any sequence to the loss. These exclusions apply whether or not the loss event results in widespread damage or affects a substantial area.

A deductible is the amount of money that you are responsible for absorbing before the insurance carrier pays your claim. You are not required to pay any amount out of pocket, but it is the amount that gets
deducted from any claim payment. The master policy is subject to a deductible is $250 for each claim which you are responsible for under the program.  

As a certificate holder under the master insurance policy, you are responsible for the payment of insurance reimbursement fees based on the amount specified in your Insurance Lease Addendum which varies by
community. Insurance reimbursement fees are billed monthly and are collected with your monthly rent.  The property management company will collect the insurance reimbursement fees and remit payment to the insurance agent.  Insurance reimbursement fees are not pro-rated or adjusted for partial month enrollment.  

Once you move out of the community, insurance reimbursement fees will no longer be collected and your obligation to pay insurance reimbursement fees will cease as your coverage will be cancelled.  

Your coverage will remain in effect for the duration of your lease so long as insurance reimbursement fees are paid with your monthly rent, and there is no other legal basis for which the carrier may cancel your
coverage or the master policy.  Your insurance coverage terminates with your move out and/or upon returning possession of your apartment to the community.   You do not need to provide any request for extensions or advance notice of cancellation for normal move-out situations.   

Your coverage is non-transferable to any other location and will not cover you when you are not at your apartment home.  We recommend you secure new independent insurance effective with your move to ensure your belongings are adequately protected during the moving process. For mid-term cancelations, your community requires substitute insurance to be placed on file to ensure you meet any on-going Lease obligations.  You may contact us at (800) 430-8075 to cancel your AssetProtect coverage and provide
evidence of replacement coverage. 

This Renters Insurance Program does not cover damages to personal belongings as a result of Fire or Smoke.

The Renters Insurance Program will NOT cover general theft or mysterious disappearances of your possessions. 

This Renters Insurance Program will NOT cover losses arising out of dog or other animal bites or attacks.  If you are in possession of an animal that you believe could cause injury to another animal or a person, we
recommend you seek alternative insurance coverage where this exposure can be insured.   

This Renters Insurance Program will NOT cover bug infestations of any kind, including bed bugs, cockroaches and other bugs as well as rodent infestations. You may not be covered for any damage these pests cause, or for the costs to eliminate an infestation problem to your personal
contents. 

Your property management company has established a relationship with the program manager and/or insurance agent to offer this insurance product. The community will charge an administrative fee which is
included in the monthly insurance reimbursement fee you pay.  Fees may vary by community and change from time to time based on various factors without notice. It is possible that the property management company could receive other compensation from this program based on overall performance.

As a “tenant”, you are not an insured or additional insured under the master policy.   A Tenant, is a Loss Payee under the Tenants Personal Property Coverage endorsement.  The “tenant” must be in good standing under the lease agreement with all rents and other amounts due from the “tenant” to the community.  The personal content limits as shown in your Insurance Lease Addendum is shared amongst all tenants residing in your apartment unit.    

Report your claim online or by calling LeaseTrack at (800) 430-8075. One of the customer service representatives will assist you in filing your claim.  Be prepared to provide the
following information:

  • Your personal contact information
  • Apartment Community Name
  • Incident location information
  • Description of the accident or loss
  • A list of property damaged in the incident

Once the claims information is received, you will be contacted by a claims examiner with the insurance carrier.  The claims examiner may request additional information or documentation to support your
claim. 

Please also notify your property manager as soon as possible if a loss has occurred in your apartment. 

Occasionally, Renters Insurance Program claims are denied. There are various reasons why this may happen, but the most common are:

  • Claim filed for non-covered events. For example, the Renters Insurance Program will not cover damage due to flooding. Your personal property is also not protected in the event of an earthquake. It is important to know the details of your coverage before something happens.
  • Inaccurate information. If you have provided your insurance company with inaccurate information about your apartment, the personal items contained therein, or the damage caused, your claim may be denied. 
  • Suspected fraud.  Insurance fraud is a real problem, and if your claims adjuster or insurance company suspects fraud on your part, your claim may be denied pending further investigation. Having a copy of all receipts for major purchases as well as a video documenting the contents of
    your apartment can go a long way in helping you to prove that your loss is legitimate.

The insurance reimbursement fees for the insurance program are specific to a community and vary based on the personal content limits selected. As such, your insurance reimbursement fees will not increase
as a result of you submitting a claim. However, the insurance carrier has the right to cancel or non-renew policies under certain circumstances as discussed in previous sections. 

You may fulfill your renter insurance obligation by providing evidence of coverage directly to LeaseTrack. When submitting your information, please include the following information:

  • Your name, and names of all adults living in the home
  • Your address
  • Policy number
  • Policy start and end dates
  • Evidence of personal liability with minimum limit of
    $100,000
  • Your Community Named listed as an “Additional
    Interest” 
  • The Additional Interest must be listed exactly as follows:
    Your community Name
    P.O. Box 38267
    Albany, NY, 12203 

Please upload your proof of coverage at www.leasetrack.ai/renters or email to ACC@leasetrack.ai. LeaseTrack will notify your property manager once all information is received and you are compliant with your lease requirements.  Please do not bring your evidence of insurance to the leasing office since LeaseTrack is fulling managing this process. 

If your policy expires and you wish to renewal that coverage, you will need to send a renewal proof of coverage directly to LeaseTrack at www.leasetrack.ai/rentersor email to ACC@leasetrack.ai.  LeaseTrack will update your compliance and notify your property manager.  

If your policy expires and you do nothing, you will automatically be enrolled in the renters insurance program and will be charged a monthly insurance reimbursement fee as outlined on your Insurance
Lease Addendum. 

If your policy lapses during your lease for any reason (non-payment or it was canceled), you will automatically be enrolled in the renters insurance program and will be charged a monthly premium as outlined on your Insurance Lease Addendum.

If you change carriers or replace your policy during your lease you can upload the new  proof of coverage directly to LeaseTrack at www.leasetrack.ai/renters, or email to ACC@leasetrack.ai.  LeaseTrack will update your compliance and notify your property manager.  

If your carrier will not add an Additional Interest (the Community Name) as required by the Insurance Lease Addendum, we will be unable to accept that insurance policy.  You may find coverage elsewhere that offers the appropriate coverage or do nothing, and you will be automatically enrolled in the LeaseTrack renters insurance program and you will be charged a monthly insurance reimbursement fee as outlined on your Insurance Lease Addendum. 

Your community has outsourced all insurance tracking and management to LeaseTrack.  As such, all insurance information or questions must be submitted to them directly and they will update your property manager with your information. 

LeaseTrack Customer Service:  (800) 430-8075

Monday – Friday: 9am – 9pm EST

Saturday – Sunday: 10am – 5 pm EST