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Featured Solutions: Property (Commercial)

Suite Protector and Your Rental Protector designed to help landlords manage business, tenant risk

The market for rental housing in the U.S. continues to surge, with government data showing a sustained decline in rental vacancies while home ownership holds fairly steady.

The rental market growth means landlords not only are requiring more services, some also are requiring liability insurance from their tenants to protect their interests. Two exclusive products, Suite Protector and Your Rental Protector, are designed specifically to help landlords manage the risk associated with their business and their tenants.

Suite Protector is a group renter’s policy that makes it easy for tenants to purchase coverage. Many tenants assume that in the event of a disaster, the landlord’s policy will cover their property. However, that’s not the case. What’s more, since renters insurance isn’t always required (unlike with homeowners insurance), tenants may be left vulnerable to a devastating loss.

Your Rental Protector is the newest product offered through Lloyd’s and replaces the need for your landlord clients to collect security deposits. It provides coverage for damage (above wear and tear) and non-payment of rent. This product currently is only offered in New York, but it’s expected to be available nationwide soon.

What makes these two products particularly attractive? By utilizing online platforms, they require little to no administration on the landlord’s part. And they cost the landlord nothing.

How is this possible? Since Suite Protector is a renter’s insurance policy, its cost is borne by the tenant to cover their contents and liability exposures. Meanwhile, the cost of Your Rental Protector is covered when tenants pay a security deposit waiver fee that the landlords use to purchase the policy.

What are the benefits to landlords and why should you ask them about their interest in these products?


  • Fewer losses incurred when tenants are properly insured.
  • Recovery for property damage.
  • Retain revenue that would have been for uninsured tenant losses.
  • Includes Tenant Liability Coverage, insulating against unforeseen circumstances.
  • Ability to view and verify tenant coverage online.
  • No need to collect premium or get involved in claim reporting or investigation processes.
  • Marketing support provided by Burns & Wilcox for the landlord including point of sale brochures.

Your Rental Protector

  • Easier to place tenants with less money down.
  • More security: the sum insured is 125% of a traditional security deposit, with no deductible.
  • Coverage limits up to $30,000 per rental unit for qualified tenants.
  • No need to maintain accounts or waste time taking tenants to court. Valid claims are paid within 45 days.

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