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What is covered under our Scheer Landlord Protection policy?

Are you protected from renters who might decide to quit paying rent, damage your building and trash the contents inside of your rental? Are you covered against loss or will you end up paying out of pocket?

Can you afford all this with no rent?

With SureVestor’s Scheer Landlord Protection you get coverage against these risks, replacement fees for your contents and insurance against the destruction of your building. Find out what we cover below.

Communicable Disease Endorsement

For all new policies and renewals with an effective or renewal date of April 1, 2020 onwards:

Please Note We will not be able to accept new or renewal of policies with effective dates beyond April 30th, 2020. We hope this is temporary as we all learn more about this pandemic

Claims resulting from insured events that occur within the first 90 days of commencement date (of the policy), will be limited to 50% of the total amount that, but for this Endorsement, would otherwise be payable to the insured under this policy.

Claims will only be paid once the tenant has vacated the property.

The current $500 deductible for malicious damage and theft claims will be increased to $5000. Other conditions include mandatory immediate reporting of malicious damage and theft to the claims agent Mills Mehr & Associates where physical damage is estimated to exceed $5000, along with a report to local police, possible appointment of loss adjuster and fraud audit on all malicious damage and theft claims. All other policy terms, eligibility and conditions remain unaltered.

All other policy terms, eligibility and conditions remain unaltered.

If you are already aware that your tenant will not be able to pay rent, you will need to make an arrangement with the tenant. These losses are already incurred and insurance will not cover them. The Arrears at commencement for cover clause still applies to all new policy requests.

Policy Benefits Checklist

All specified risks listed below are included unless otherwise stipulated as No cover.

* Prices exclude your state specific taxes and stamping fees.

	SCHEER ESSENTIAL	SCHEER PREMIER			SCHEER ULTIMATE
$0-$999	Not Available	Not Available			Not Available
$1000-$2000	$315/year*	$355/year*			$395/year*
$2001-$3000	Not Available	$355/year* Rent Coverage caps at $2000/month	or	$455/year* Rent Coverage caps at $3000/month	$395/year* Rent Coverage caps at $2000/month	or	$495/year* Rent Coverage caps at $3000/month
Over $3000	Not Available	$355/year* Rent Coverage caps at $2000/month	or	$455/year* Rent Coverage caps at $3000/month	$395/year* Rent Coverage caps at $2000/month	or	$495/year* Rent Coverage caps at $3000/month
LOSS OF RENT Arrears period of 2 months applies.	Max Level of Cover	Max Level of Cover			Max Level of Cover
Tenant Skip (lease break)	2 weeks	4 weeks			8 weeks
Tenant Delinquency (Eviction Order granted)	4 weeks	6 weeks			10 weeks
Tenant Delinquency (Writ of Possession obtained)	No cover	8 weeks			12 weeks
Tenant Death (sole tenancy)	No cover	8 weeks			12 weeks
Tenant Murder or suicide	No cover	6 weeks			25 weeks
Untenable (Contents for Condos) for damage by fire, explosion or water damage	4 weeks	6 weeks			8 weeks
Untenable (due to malicious damage by tenant to the contents only)	4 weeks	6 weeks			8 weeks
Untenable (due to malicious damage by tenant to the building only)	4 weeks	12 weeks			16 weeks
Victims of Violence	No cover	2 weeks			4 weeks
Prevention of Access/Denial of Access	12 weeks	12 weeks			12 weeks
ADDITIONAL BENEFITS
Malicious damage to building and/or contents	$25,000	$35,000			$50,000
Theft or Damage due to theft to building and/or contents	$5,000	$15,000			$25,000
Eviction filing fee, Eviction defense costs	$500	$4,000			$7,000
Sheriff, Marshall or Constable fees	$200	$400			$600
Loss due to use of Digital Lock Boxes	$2,000	$5,000			$5,000
Service and/or companion animal damage	$1,000	$1,000			$1,000
Re-keying of locks	No cover	$300			$400
Terrorism cover available for additional premium	On request	On request			On request
CONTENTS FOR CONDOMINIUMS Max amount claimable per claim aggregated with malicious damage	$25,000	$35,000			$50,000
Fire or explosion
Water Damage
If you are a property manager	Pick this Plan Not Yet Registered?	Pick this Plan Not Yet Registered?			Pick this Plan Not Yet Registered?
If you are a landlord	Info on This Plan	Info on This Plan			Info on This Plan

NOTE: A deductible of $500 per event will be applied to all Malicious Damage and Theft Claims.

Eligibility Criteria

Scheer Landlord Protection Insurance is only available for properties that are managed by a Professional Property Management Agent.
Cover is not available on any property with a monthly rent below $1,000 or that is located within the five boroughs of New York City.
Scheer Essential is available for properties with a monthly rent between $1,000 and no greater than $2,000. The maximum level of cover for a rent claim under Scheer Essential is up to $2,000 per month and cannot be extended.
With Scheer Premier and Scheer Ultimate if the monthly rent of a property is above $2,000 per month, cover up to $3,000 per month can be purchased at an additional premium of $100 excluding applicable state taxes, fees and charges.
If the additional premium cover noted above is not purchased, an insured property with a monthly rent above $2,000 can purchase either Scheer Premier or Scheer Ultimate but the maximum loss of rent claim will be limited to $2,000 per month
All claims will be settled according to the lesser of the rent on the current lease, or up to a maximum per month rent cover of $2,000, or up to $3,000 per month if the Invoice/Certificate of Insurance shows that additional cover was purchased.
Cover is subject to Policy Wording conditions, exclusions and limitations. You should read all documents including Key Facts thoroughly to ensure the product suits your needs.

What is covered under our Scheer Landlord Protection policy?

Communicable Disease Endorsement

Policy Benefits Checklist

Eligibility Criteria

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