Silvernest has partnered with the Next Generation Insurance Group to offer their Renter’s Protection Plan as part of our homesharing services. Just by paying through Silvernest, housemates are automatically enrolled in the plan. Below is a summary of what’s covered and what is not covered by the plan.
The policy provides up to $10,000 in personal property coverage for the renter’s belongings against theft, fire and other listed damages that might occur. Covered items include personal belongings such as electronics, computers, clothing and more. The policy reimburses the housemate for the cost of replacing personal property without penalty for depreciation (replacement cost coverage) and coverage is extended anywhere in the world.
The policy provides up to $100,000 in liability coverage for the renter against unintentional damage they might cause to the home or the homeowners belongings.
The policy provides temporary housing to insured renters if they are displaced from their home due to a covered loss (up to 20% of personal the property coverage limit). Covered perils include vandalism or malicious mischief, theft, burglary and robbery, fire and lightning, windstorm and hail, explosion, smoke, breaking of glass, falling objects and more.