Renters Insurance Program Overview
American Campus Communities works with LeaseTrack as a preferred partner to offer renters insurance or a seamless process for validating an insurance policy if you already have one. As outlined in your lease addendum, students must maintain liability insurance coverage with a minimum personal liability limit of $100,000.
There are three ways to comply with this lease requirement:
Option 1: Obtain Insurance with LeaseTrack
LeaseTrack provides you with special pricing and great coverage on renter’s insurance. See below to receive a quote and purchase a policy.
Option 2: 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. A minimum personal liability limit of $100,000
2. ACC listed as an additional interest as follows:
PO Box 38060
Albany, NY 12203
Option 3: Resident Liability Compliance Fee
If you choose not to purchase insurance, or if you send in a proof of insurance without all above-listed requirements, you will be automatically enrolled in the Resident Liability Compliance Fee program. The fee will be added to your monthly rent statement. The fee program is not a damage deposit and does not provide insurance coverage of any kind.
The fee program is not a damage deposit and does not provide insurance coverage of any kind.
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 and ensure that you receive the full compensation due to you.
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. If you own anything
particularly expensive, you may want to keep documentation of its appraised value in a safe place.
We recommend keeping copies of all your documentation in another building or “in the cloud” (internet storage) 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 your claim is paid in a timely manner:
- Submit your 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 your 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. When appropriate, take pictures or video.
- Do anything you can to minimize further damage. For instance, if a window is broken, cover it with plastic to prevent water damage.
- Save all receipts. If the damage to your apartment makes it uninhabitable and you must pay for an alternative residence, save all receipts for lodging and expenses during the time that you are unable to live in your apartment. Your coverage may include reimbursement for some or all of those costs.
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
- Your Community Named listed as an “Additional
- 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/renters, or email to firstname.lastname@example.org. LeaseTrack will update your compliance and notify your property manager.
If your policy lapses during your lease or expires and you do nothing, you will automatically be enrolled in the compliance fee program and will be charged a monthly fee.
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 email@example.com. 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