Frequently Asked Questions

While the master insurance policy will cover many common losses, the master policy is subject to policy sub-limits and exclusions.  Please note that the actual language in the master policy will ultimately determine what is covered and what is not at the time a claim is presented. 

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.   

DAMAGE TO LANDLORD PROPERTY

Covered:

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

• Fire and smoke damage                             
• Accidental discharge or overflow of Water/Steam
• Explosion                            
• Weight of Tenant Property
• Freezing of Plumbing, heating, or air conditioning systems

Not Covered:

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

• Natural disasters like flooding, wind damage, or power outages.                         
• Animals or Animal Bites      
• Intentional Loss                   
• War/Governmental Actions                        

Such loss is excluded regardless of any other cause or event contributing concurrently or in any sequence to the loss. These exclusions apply whether the loss event results in widespread damage or affects a substantial area.

DAMAGE TO TENANT PERSONAL PROPERTY (IF APPLICABLE-ONLY WHEN ADDED TO POLICY)

Covered:

While limitations may apply, coverage applies to tenant personal property on a replacement cost basis resulting from:

• Fire and smoke damage
• Windstorm or Hail
• Explosion
• Accidental discharge or overflow of Water/Steam
• Freezing of Plumbing, heating, or air conditioning systems
• Burglary
• And More

Not Covered:

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

• Water damage from flooding or backup of sewers and drains
• Mysterious Disappearance
• Intentional Loss
• Power Failure

Such loss is excluded regardless of any other cause or event contributing concurrently or in any sequence to the loss. These exclusions apply whether the loss event results in widespread damage or affects a substantial area.

Additional Living Expense/Loss of Use coverage helps with costs like hotel or rental payments if your apartment is damaged or destroyed. It provides compensation for temporary housing or relocation, as outlined in the master policy. The additional living expense has a maximum limit of $2,000.

A deductible is the amount subtracted from your insurance claim payment before the insurer covers the rest. In this program, there is no deductible for covered damage to the landlord’s property. A $500 deductible applies to each personal contents claim. Please note that claims arising out of Burglary (forced entry) are subject to a $1,000 deductible.

Coverage will remain active throughout your lease term, provided TLL fees are paid alongside your rent and there are no legal grounds for cancellation. Coverage automatically terminates upon move-out or when possession of your apartment is returned to the community, with no need for advance notice in standard move-out scenarios.

To discontinue TLL coverage mid-lease, all you need to do is upload proof of insurance to LeaseTrack.

Please email Help@LeaseTrack.ai for email confirmation of TLL coverage.

Your coverage will remain active throughout your lease term, provided TLL fees are paid alongside your rent and there are no legal grounds for cancellation. Coverage automatically terminates upon move-out or when possession of your apartment is returned to the community, with no need for advance notice in standard move-out scenarios.

To cancel TLL coverage and provide evidence of replacement coverage, please contact us at (800) 430-8075.

Report a claim online and provide the following:

• Your personal contact information
• Home or 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. The claims examiner may request additional information or documentation to support the claim. 

Before recovering from any loss, you must provide the carrier with all pertinent records needed to prove the loss; and if requested, send them a sworn statement of loss upon request. Do not discard damaged goods. Wait until a claims examiner has contacted you and advised that these may be discarded. If this is not possible, take a photograph of the item(s) before discarding them.

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

You can be well-prepared in the event that you ever need to file a claim. In doing so, you can make the claims process go much more smoothly.

• Take an inventory of all your belongings and include an estimated value of each item. Include detailed photos of your more valuable belongings, as well as any receipts of purchase.
• We recommend keeping copies of all your documentation in another building or digitally so that if the copy in your apartment is damaged, you can still access your records.

Tips on How to File a Property Loss or Damage Claim

Take the following steps to ensure that the claim is paid in a timely manner:

• Submit the claim immediately.  Do not wait until you have repaired or replaced your items or incurred the expense.
• Inventory and Photograph Damages. Make a list of what is damaged. Be sure to include as much detail as possible, such as: make, model, year purchased, purchase price, etc.
• Do not dispose the damaged items until you have obtained approval from the claims adjuster.
• In the event of a burglary, be sure to get a copy of the police report.
• Make note of important details such as the time and date of the incident that led to the loss.
• Record and document all missing or damaged items.
• Save all receipts. If the damage to your apartment makes it uninhabitable, save all receipts for lodging and expenses during the time that you are unable to live in your apartment. Coverage may include reimbursement for some or all those costs.

TLL fees will not increase as a result of submitting a claim. However, the insurance carrier has the right to cancel or non-renew policies under certain circumstances as discussed in previous sections. TLL fees may change over time as outlined your lease agreement.

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 38060
  • Albany, NY, 12203 

Please upload your proof of coverage at www.leasetrack.ai/renters. LeaseTrack will notify you and your property manager once all information is received, and you are compliant with your lease requirements.

If your policy expires and you wish to renew that coverage, you will need to send proof of renewal directly to LeaseTrack at www.leasetrack.ai/renters, or email to help@leasetrack.ai.  LeaseTrack will notify your property manager.  

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

If your carrier will not add an Additional Interest as required by the Insurance Lease Addendum, we will be unable to accept that insurance policy. You may call 800-430-8075 to obtain appropriate coverage or do nothing, and you will be automatically enrolled in the TLL program and you will be charged a monthly TLL fee as outlined on your Insurance Lease Addendum. 

Please contact us here if you have any additional questions.