When adding tenants into Innago, you’ll have the option to request proof of renter’s insurance from your tenants, and even enforce renter’s insurance requirements. One of the options you’ll have is to automatically enroll tenants into our Tenant Liability Waiver Program:
The Tenant Liability Waiver Program is protection for the landlord, which also benefits the tenant. Renter’s insurance is similar but it’s protection mainly for tenants, that just happens to have some benefit to landlords.
Our program is a landlord-protection policy that covers damage a tenant causes to the property, typically including: fire, water, or smoke damage caused by negligence, other damage to the unit or building, etc. — it protects the PO’s assets.
It also covers the tenant’s belongings as well.
The main benefit compared to typical renter’s insurance is that it requires minimal tenant involvement, and ensures the landlord is always covered. It’s usually less expensive for tenantsas well.
What’s the Difference Between the Tenant Liability Waiver Program and Renter’s Insurance?
You may be wondering how this program differs from typical renter’s insurance as far as coverage and costs etc. Here’s a table below that breaks it down for you:
|
Feature |
Tenant Liability |
Renters Insurance |
|
What’s Protected |
The landlord’s property & the tenant’s belongings. |
The landlord’s property (only if covered in liability policy and tenant deemed liable) & the tenant’s belongings. |
|
Who Pays |
Tenant via small monthly fee (paid to Innago) |
Tenant buys separate policy (paid to insurer) |
|
Enrollment |
Automatic / landlord-enforced |
Tenant must find, buy, maintain |
|
Compliance Tracking |
Built-in (PO guaranteed) |
High landlord overhead (collecting proof, chasing docs) |
|
Cost to Tenant |
Typically cheaper (~$18) |
More expensive (~$15–$30+/mo) |
|
Landlord Benefit |
Guaranteed protection – landlord controlled |
Protection only if tenant keeps policy active – less control |
|
Risk of Lapse |
None (Innago-managed) |
Higher (tenant forgets, cancels, lets it lapse) |
As you can see, the Tenant Liability Waiver program has benefits over typical renter’s insurance for both landlords and tenants. For instructions on how to enroll tenants into this program, please click here.
FAQ’s
Will the tenant be notified if I force them to enroll?
Yes, tenants will be notified via e-mail. They will also have to sign an addendum before any coverage is activated.
How much will this cost for my tenants?
$18 per month.
How are tenants billed for their monthly payment?
Tenants will have a separate invoice on their Dashboard that you will not be able to view on your end (since this payment is going directly to Innago).
Can tenants set up Auto Pay for their monthly TLW payment?
Yes! They absolutely can. If they have Auto Pay enabled, their payment will automatically process based on their Auto Pay settings.
Will I be notified of any coverage gaps?
Yes, you will be notified via e-mail if a tenant misses a payment or if coverage has expired.
Can commercial tenants be enrolled in this program?
No, only residential tenants.