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FAQs

What is Tenant Liability Insurance?

Tenant liability insurance covers the property contained within your living premises up to the value of the policy. It also includes liability coverage. Refer to the Summary of Coverage located below.

Why do I need this?

As a condition for your lease, IMT requires all residents to have liability insurance for $50,000 for damage to the landlord's property during the term of your lease. For the low cost of $11.50 per month, you can conveniently satisfy the liability requirements of your lease with the IMT's Master Insurance Policy. $138 is the annual cost of our tenant liability program that covers up to $50,000 liability. IMT's Master Insurance Policy covers your legal liability for damage to IMT Residential’s property up to $50,000. Covered losses include fire, smoke, explosion, water damage or back up or overflow of sewer, drain, or sump.

What is the cost?

The cost is only $11.50 per month. For just pocket change, your policy will provide affordable basic protection in case of damage caused by fire, smoke, explosion, water damage, or back up or overflow of sewer, drain or sump. 

What is covered?

The coverage of this program is $50,000 liabilty coverage. Please see the "Summary of Coverage" located below.

How do I sign up?

Contact your community leasing office and inform them that you would like to participate in IMT's Master Insurance Policy Program.

Is my property part of this program?

Not all IMT Residential communities are participants in this program. To determine if your community is a participant, please search on the SEARCH tab.

Can I obtain a Renters Insurance policy that includes theft, floods and earthquakes and/or a higher amount of coverage?

IMT's Master Insurance Policy does not cover theft, earthquakes, or damage to your personal content. It is limited to fire, smoke, explosion, water damage, or back up or overflow of sewer, drain or sump, and is limited to $50,000 liability coverage of exclusively IMT Residential's property. If IMT's Master Insurance Policy does not meet your requirements, you can shop around for a policy that meets your needs at the best price. If you have a car, the company that insures it is a good place to start. If you choose to not use IMT's Master Insurance Policy, than you must provide proof of insurance to your community Leasing Office. 

How can I effectively track my possessions and valuables?

Use a camera and/or a notepad to document your possessions along with their cash value. If you have receipts for big ticket items, that’s even better. Store all this documentation in a safe place – either in a fireproof box in your home, in a safety deposit box, or a trusted relative’s house. The Insurance Information Institute offers a free software that allows you to go room by room and track and identify all of your major possessions: www.knowyourstuff.org.

How do I make a claim?

You may contact Beecher Carlson directly at 6 Concourse Parkway, Suite 2300, Atlanta, GA 30328.

 

Phone: 1-844-277-6640

Email: tlclaims@beechercarlson.com

Website: tenantllclaim.com

Summary of Coverage

LANDLORD REQUIRED TENANT LIABILITY SUMMARY OF COVERAGE

 

NAMED INSURED (LANDLORD):

Investors Management Trust Real Estate Group, Inc. DBA IMT Residential

15303 Ventura Boulevard, Suite 200

Sherman Oaks, CA 91403

 

POLICY NUMBER:

CPIC-TLL-016

 

RESIDENCE PREMISES:

Rental housing or apartments (“Units”) owned or managed by the Property Owner.

 

ADDITIONAL INSURED:

As long as the monthly premium payments have been remitted by the Named Insured for the covered unit, the residents of that unit shall be considered an Additional Insured during the coverage period.

 

RESIDENCE PREMISES COVERAGE PERIOD:

Effective Date: As reported by Property Owner each month

Expiration Date: As reported by Property Owner each month

 

LIMITS OF LIABILITY:

Property Damage Liability to Landlord: $50,000 Per Residence Premises Any One Occurrence

 

PREMIUM:

$11.50 Per Month

 

CLAIM REPORTING

Beecher Carlson

6 Concourse Parkway, Suite 2300

Atlanta, GA 30328

Email: tlclaims@beechercarlson.com

Phone: 1-844-277-6640

Website: tenantllclaim.com

 

This Summary of Coverage is not an insurance policy. This is a condensed summary of the terms and conditions of the Named Insured's policy. This document may not include all terms and conditions of the Policy. Coverage only applies for such monthly periods in which the Named Insured has reported and remitted the premium to the Insurer. Tenant may request a copy of a Policy by contacting their local property manager of the Named Insured shown above. This is not renters insurance. This Policy does not provide liability coverage for bodily injury or property damage to others and only limited contents coverage. The lease agreement requires that the tenant maintain $50,000 in property damage coverage to the landlord's property for which tenant may be liable (tenant legal liability coverage)..

AGREEMENT: Insurer will provide the insurance described in the policy in return for payment of the premium by Named Insured and compliance with all provisions of the policy applicable to the Named Insured and the tenant respectively. 

PROPERTY DAMAGE LIABILITY TO LANDLORD COVERAGE: If a claim is made or a suit is brought against the tenant for damages because of property damage caused by an occurrence to the insured location to which this coverage applies, Insurer will: (a.) pay up to the Limit of Liability for the damages for which the tenant is legally liable. Damages include prejudgment interest awarded against the tenant; and (b.) Provide a defense at Insurer's expense by counsel of Insurer's choice, even if the suit is groundless, false or fraudulent. Insurer may investigate and settle any claim or suit as Insurer deems appropriate. Insurer's duty to settle or defend ends when the Limit of Liability for the occurrence has been exhausted by payment of a judgment or settlement.

EXCLUSIONS: Property damage arising from: (A.) Ownership, maintenance, occupancy, operation, use, loading or unloading of aircraft, hovercraft, watercraft or motor vehicles. (B.) Expected or Intended Damage. (C.) Business activities. (D.) Bodily Injury. (E.) War or discharge of any nuclear, biological or chemical agent or weapon. (F.) Use, sale, manufacture, delivery, transfer or possession by any person of a Controlled Substance. (G.) Pollutants, Asbestos, Lead and Silicon. (H.) Fungi and Bacteria. (I.) Association loss assessment; (J.) Contracts other than the lease agreement; (K.) Property owned by any party other than the Landlord. (L.) Property rented to, occupied or used by or in the care of the tenant other than the insured location. (K.) Loss of rental income, rental value or business income.

ADDITIONAL COVERAGES: Insurer will pay the following in addition to the Limit of Liability: (1.) costs taxed against the tenant in any suit Insurer defends; (2.) premiums on bonds required in a suit Insured defend, but not for bond amounts more than the Limit of Liability. Insurer need not apply for or furnish any bond; (3.) Reasonable expenses incurred by the tenant at Insurer's request, including actual loss of earnings (but not loss of other income) up to $250 per day, for assisting in the investigation or defense of a claim or suit; and (4.) Interest on the entire judgment which accrues after entry of the judgment and before Insurer pays or tenders, or deposit in court that part of the judgment which does not exceed the Limit of Liability that applies.

CONDITIONS: (A.) Limit of Liability: Our total liability for all damages resulting from any one occurrence will not be more than the Limit of Liability. This limit is the same regardless of the number of claims made. All property damage resulting from any one accident or from continuous or repeated exposure to substantially the same general harmful conditions shall be considered to be the result of occurrence. (B.) Duties After Occurrence: In case of an occurrence, tenant will perform the following duties. Insurer has no duty to provide coverage if tenant's failure to comply with the following duties is prejudicial. Tenant will help Insurer by seeing that these duties are performed: 1. Give written notice to us or our agent as soon as is practical, which sets forth: the identity of the policy and the Named Insured; reasonably available information on the time, place and circumstances of the occurrence; and names and addresses of any claimants and witnesses; 2. Cooperate with Insurer in the investigation, settlement or defense of any claim or suit; 3. Promptly forward to Insurer every notice, demand, summons or other process relating to the "occurrence"; 4. At Insurer request, help Insurer: to make settlement; to enforce any right of contribution or indemnity against any person or organization who may be liable to the tenant; with the conduct of suits and attend hearings and trials; and to secure and give evidence and obtain the attendance of witnesses; 5. No "tenant" shall, except at their own cost, voluntarily make payment, assume obligation or incur any expense. (C.) Suit Against Insurer: No action can be brought against Insurer unless there has been full compliance with all of the terms of this policy. No action can be brought against insurer until the obligation of the tenant has been determined by final judgment or agreement signed by Insurer. (D.) Other Insurance: Coverage under the policy is excess over other valid and collectible tenant insurance except insurance written specifically to cover as excess over the Limit of Liability that applies in the policy. (E.) Coverage Period: Coverage under the policy applies only to property damage which occurs during a valid Coverage Period. The Coverage Period for each eligible residence premises shall commence upon the later of: the policy Effective Date; or the inception date of the lease agreement between the tenant and the Named Insured for utilizing the residence premises; or such later Coverage Effective Date as reported by the Named Insured. The Coverage Period shall cease upon the earlier of: the policy cancellation or Expiration Date; or the termination or expiration date of the lease agreement between the tenant and the Named Insured for utilizing the residence premises; or such earlier Coverage Expiration Date as reported by the Named Insured; or such other cancellation date as precipitated by non-payment of premium or other valid reasons. (F.) Concealment Or Fraud: Insurer does do not provide coverage to a tenant who, whether before or after a loss, has: intentionally concealed or misrepresented any material fact or circumstance; engaged in fraudulent conduct; or made false statements; relating to any claim or the insurance coverage provided under the policy. (G.) Tenant is not a Named Insured: the tenant is not a Named Insured under the policy. The tenant is only an Additional Insured. To qualify as an Additional Insured, all premiums must have been paid for the Coverage Period for the residence premises. (H.) Cancellation: Only the Named Insured or the Insurer may cancel or non-renew the policy. (I.) Subrogation: We may require an assignment of rights of recovery for a loss to the extent that payment is made by us. If an assignment is sought, the tenant must sign and deliver all related papers and cooperate with us. (J.) Reporting and Remittance: It is the responsibility of the Named Insured to report Residence Premises and pay the monthly premium to the insurer. Failure by the Named Insured to report or remit shall void coverage. In the event that the tenant obtains personal liability insurance or renters insurance in compliance with the terms of the lease agreement, coverage for the tenant's residence premises may be cancelled to such date with a return of any unearned premium.