Hello, tenants! One thing you may have noticed when working with Lobos is that—along with the fact that we love our residents—we require all residents to have renter’s insurance.

Whether this is your first time renting or you’ve been with us for years, you may have questions about this requirement. Many places require renter’s insurance, while others don’t. With Lobos Management, you have two options:

1. Do nothing and be automatically enrolled into AssetProtect, the insurance company we partner with. Your belongings will be protected, and you’ll be charged $13.50 a month for this policy; or
2. Upload your own insurance, which allows you to “opt out” of AssetProtect and use your own coverage.

In this article, we’ll explain a little more about AssetProtect, how to upload your own policy if you choose to, what your policy is required to have, and what happens if you do nothing. First, let’s start with a brief overview of AssetProtect!

WHAT INSURANCE DO WE PROVIDE?

AssetProtect, administered through a company called LeaseTerm, is our preferred partner for providing renter’s insurance. Here is some brief information about it:

AssetProtect consists of contents coverage for your personal belongings, protecting them from specific “Named Perils” such as fire, lightning, wind/hail, water leakage, electrical surge, and burglary. This coverage applies only to items inside your apartment. The policy includes $5,000 in contents coverage and $100,000 in liability coverage. Coverage applies only to your ownership interest in damaged items, making you a loss payee if something were to happen.

Other Points to Know:

• Certain risks—like earthquakes and some types of theft—are excluded.
• After a loss, you must immediately notify AssetProtect, report crimes when applicable, and prevent further damage if possible.
• Proof of ownership (such as receipts or photos) may be required when submitting a claim; you must show that you own the item you’re claiming was damaged.

 

Remember—you’re not required to use AssetProtect if you prefer other coverage options. Below, we’ll explain how to upload your own coverage to our system.

HOW DO RENTERS UPLOAD THEIR OWN POLICIES?

If you choose to upload your own insurance, we make that easy. Just follow these steps (also shown in the images below this section):

1. Go to www.APenroll.com.
2. Search the zip code 15217 and select “Lobos Management.”
3. Click the blue button that says “Choose this Option.”
4. When you see Lobos Management’s name on the blue button, click it to select us as your community.
5. Complete the Third Party Insurance Information and Resident Information sections using your own policy details. Upload your Insurance Declaration Page where prompted.
6. Select “Yes” where it asks, “Is Your Apartment Community listed as an Additional Interest?”

 

If Lobos Management is not listed on your Insurance Declaration Page, call your insurance company and request that we be listed as “additional insured.” Provide them with the following mailing address:

Lobos Management
P.O. Box 81067
Pittsburgh, PA 15217

Once you’ve submitted everything properly, you’ll receive two emails:

1. A confirmation that AssetProtect received your policy and is reviewing it.
2. An approval or denial email. If you’re approved, the $13.50 monthly charge will be removed from your account within thirty days. If you don’t opt out, you’ll automatically be enrolled in renter’s insurance through APenroll.com.

 

After these images, you’ll find the requirements your policy must meet in order to be approved.

WHAT ARE THE REQUIREMENTS FOR THE POLICY TO BE APPROVED?

You likely saw these requirements in your “Required Insurance Addendum,” which was included with your lease. Your insurance coverage must, at minimum:

• Include a $100,000 limit for tenant’s legal liability for damage to the landlord’s real, improved, and personal property—including fixtures. This includes damages caused by fire, smoke, explosion, sewage backup, water damage, and more. If our property is damaged by one of these causes, your legal liability will be covered up to $100,000.
• Be provided before you move into your apartment and again at each renewal. You must re-upload your insurance policy each lease renewal term, meaning you’ll need to follow the above instructions once a year (or more often if you switch policies).

 

WHAT HAPPENS IF RENTERS DO NOT UPLOAD THEIR OWN POLICY?

As mentioned earlier, you have two options—one of which is to do nothing and allow AssetProtect to cover you and your belongings. In that case, the $13.50 monthly charge will begin when your lease starts. It will be added to your account just like rent, utilities, parking fees, or other charges.

If you do not upload your policy—or upload it incorrectly—you will still be charged $13.50 each month. That’s why it’s important to upload your policy correctly and watch for any emails explaining why it may have been denied.

As always, you can call us at 412-441-1400 if you have questions. Renter’s insurance plays an important role in protecting you and your belongings, and we’re committed to helping you meet this requirement smoothly. If you have any questions about coverage or the upload process, our team is here to help.