Why did my premium increase?

If your premium increases it is likely due: 1) longer lease term 2) higher rent amount 3) your building requested more coverage.

Upon approval of your application, our team works quickly to provide you with an estimated cost for your policy, while simultaneously confirming the details of your lease with your building’s leasing team (if they haven’t confirmed it for us already).


The initial premium invoice for your policy is provided as soon as we’re able to approve you and we have enough information to calculate the estimate.  To calculate your estimate, we use the following parameters:

  • Monthly rent amount indicated in your application
  • Default coverage required by the building
  • Assumption of a twelve month lease

If your premium increases after the initial invoice or during policy renewal, it is likely due to one of these changes to your application:

  • The monthly rent amount for the lease has increased from what was initially stated in your application
  • Your building has requested more coverage
  • Your lease term (length) has increased from the assumption of a twelve month lease 

A longer lease or a higher monthly rent will result in more coverage being included in your policy and a higher premium amount.


The invoice amount is finalized when we receive your lease details from your building’s leasing team.