Rent/Deposit Coverage is decided by the building's risk tolerance, lease length & rent amount. The Coverage amount affects premium but isn't the premium you would owe.
How is the amount of coverage on my policy decided?
The amount of Rent and/or Deposit Coverage on your policy is decided by the building and will vary from building-to-building based on the property’s risk tolerance.
The requested coverage amount may also be influenced by your rent amount and lease length. For example, your building may require you to purchase twice as much Rent Coverage on a 2 year lease as they would require for a 1 year lease.
Is the coverage amount the amount that I owe to TheGuarantors?
No, this is the amount of coverage required by your building. The policy premium shown on your invoice is the amount you owe.
Does the coverage amount affect my premium?
Yes, your premium amount is calculated, in part, based on the coverage amount required by your building. The cost of the policy would increase if more coverage were added. To learn more click here.