Renters Insurance
While SAMI has always strongly suggested that our tenants obtain renters insurance, our leases will now require renters insurance for anyone signing a lease for the '24-25 school year and beyond.
So what is renters insurance, and how does it benefit you?
Think of renters insurance as a safety net to protect your belongings from unexpected events like theft or accidental damage. You never know what life can throw at you, but having renters insurance helps you bounce back faster!
How can you get renters insurance?
You have a few options! Due to the requirement on our leases, SAMI now offers a renters insurance policy for our tenants for only $13/month! This fee will be added to your Tenant Portal monthly, just like your rent and utilities!
You are also able to opt out of this option by obtaining your own insurance through another company or by getting a rider on your parent or guardian's policy. If you choose to do this, you will still need to provide SAMI proof of this insurance in order to fulfill lease requirements.
What insurance is provided by SAMI?
To provide an in-house renters insurance option for our tenants, we have partnered with a company called LeaseTerm Solutions to offer their AssetProtect services.
What is AssetProtect?
AssetProtect is a coverage option provided for personal property damage in events such as fire, water damage, theft, and other risks. AssetProtect provides you with coverage of up to $10,000 in such cases.
You are also provided with coverage of up to $100,000 for any damage you may cause to your apartment in instances like a kitchen fire. For more information on AssetProtect, download their flyer here.
What will this coverage cost me?
We worked with LeaseTerm Solutions to offer a low-cost rate of $13/month -- our goal is to make it easy and affordable for you to protect yourself and your belongings.
How do I pay for insurance through SAMI?
If you choose to use the renters insurance provided by SAMI, the monthly payment will be added to your Tenant Portal along with your rent and utilities, and will be due at the first of the month. You can pay this the same way you choose to pay your rent. You can find more information on making payments through your Tenant Portal here.
What if I want to opt out of SAMI's insurance and find my own?
If you choose to use a different insurance policy, you'll just need to provide the SAMI office with proof of external insurance coverage! Instructions on how to do this can be found in the drop down menu below.
While SAMI requires that every tenant signing a lease obtains renters insurance, you don't have to use our in-house coverage! You may already have your own coverage with another company, or it may be easier for you to be added as a rider to your parent/guardian's coverage.
In this case, you will just need to provide SAMI with proof of this coverage. The deadlines to complete your opt out without having the fee applied to your tenant ledger are:
March 1st for all tenants with a May move-in date.
May 1st for all tenants with a June move-in date.
July 1st for all tenants with an August move-in date.
Here's how to submit your proof of external renters insurance coverage:
1. Head to https://www.apenroll.com/ to get started.
2. Input SAMI's zipcode (61761) and click "Select Community".
3. Select the SAMI Community.
4. Click the "Choose This Option" button in the "Register Other Insurance" box.
5. Input the information from your insurance. This information must include the carrier name, policy start and end date, and your coverage.
IMPORTANT: YOU MUST HAVE SAMI LISTED AS THE ADDITIONAL INTEREST ON YOUR POLICY. You will need to list it with your insurance company as such:
SAMI
P.O. Box 112375
Carrollton, TX 75011
6. Do not forget to attach your Insurance Declarations Page(s) in the boxes shown above.
7. After inputting your Third Party Insurance Information, scroll down to input your Resident Information. Then, click the "Continue" Button.
8. Read and Accept the Third Party Insurance terms.
9. Click "Accept & Continue" to complete the process! If there are any questions about your third party insurance, we'll reach out to you directly!
You can download the official AssetProtect Opt Out Flyer here.
PLEASE NOTE: Failure to obtain this insurance, or letting it lapse, puts you in breach of your lease agreement. SAMI may then purchase the required insurance on your behalf, and you will be responsible for reimbursement of all costs and expenses.
What is renters insurance?
Renters insurance is simply insurance designed for renters -- while a company like SAMI has insurance to cover the units and buildings themselves, renters insurance is insurance designed to cover damage or theft of your personal belongings in event of fire, water damage, burglary, and other crises.
What does this actually cover for me?
While we always hope bad things and emergencies won't happen to us, they still can! Renters insurance can cover you in a variety of emergencies such as:
Property damage: renters insurance protects personal belongings such as furniture, electronics, clothing, etc. in case they are stolen or damaged in a fire or water leak. Your coverage can help replace or repair these items.
Liabilities: having renters insurance can provide you coverage in case someone is injured while in your apartment and they find you responsible. This coverage can help pay for medical bills or legal expenses if things go to court.
Additional living expenses: If something happens to make your apartment uninhabitable (due to a covered event like a fire or natural disaster), renters insurance can help cover the cost of temporary housing until things are resolved.
Why does SAMI require renters insurance?
While SAMI has always encouraged our tenants to consider purchasing renters insurance, it is now required due to a variety of reasons including your safety as a tenant and our own building insurance requirements.
What happens when I need to use my renters insurance?
In case of an emergency where you need to use your renters insurance, you'll need to file a claim.
If you are using the renters insurance provided by SAMI, you can find instructions on filing a claim here.
If you have opted out with your own insurance provider, you'll need to follow their instructions and guidelines on how to file your claim.
Other questions?
Contact our office during business hours at 309.888.4600, by emailing rentals@sami.com, or by utilizing the Live Chat option on our site!
In the instance of theft or damage to your personal belongings through emergency events, you'll need to file a claim to use your coverage! If you have enrolled with SAMI's renters insurance, here's the process to file a claim:
1. Head to https://www.apenroll.com/ to get started.
2. Select the "Claims" Option from their top menu.
3. Fill out the required information and attach any necessary documents in the fields provided.
4. Click the "Submit" button to complete your claim. You will see the following message once it's been submitted with next steps:
If you have additional questions regarding your claim, you can contact AssetProtect through their Contact Form on their site or by calling 888.814.6950.
