March 30, 2020 Dear Lewis-McChord Communities (LMC) Resident, Thank you for being a valued member of our community. We wanted to take this opportunity to let you know of a change to LMC’s Resident Insurance carrier. Please note that there is nothing you need to do as a result of this change. Please look for May’s Resident Newsletter for information to give to your insurance carrier to change the mailing address for the Interested Party notifications.
Please see below for the change to paragraph 7: 7. RESIDENT INSURANCE: We require all residents to maintain a policy of liability insurance issued by an authorized insurance company that provides limits of liability in an amount of at least $100,000 per occurrence. You must furnish proof of insurance to us on or before the commencement date of this Agreement and, you must continue to provide evidence of coverage throughout your residency. Lessor has partnered with ResidentShield Insurance Services to offer affordable renters insurance coverage to residents. If Sponsor chooses to purchase a policy through ResidentShield, proof of Sponsor’s Minimum Required Insurance and ongoing maintenance of active coverage is automatically provided to Lessor, and Sponsor is not required to take any further action for the duration of this Agreement. You can obtain such insurance through ResidentShield or through the insurance agent of your choice. If you select an insurance company other than ResidentShield, you must name the Community as an Interested Party under your policy. If you fail to obtain and maintain liability insurance as required by this paragraph, you will be in violation of your obligations under this Agreement. In such event, we will send a written notice to you demanding that you cure the violation by procuring the insurance and supplying evidence of coverage to us. If you fail to supply evidence of such insurance to us on or before renewal date or scheduled policy cancel date, we reserve the right to procure liability only insurance coverage on your behalf, and to charge you for the amount of the premium paid to the insurance company, not to exceed $150.00 per year. The premium payment made by us on your behalf to procure the insurance for you, will be considered additional rent. If you fail to pay for the liability insurance and/or you allow the expiration or cancellation of any liability insurance policy during your tenancy, without substitute insurance being put in place, this will be considered a default under this Agreement. We strongly recommend that you secure a renters insurance policy covering your personal belongings, which also includes personal liability insurance covering your actions. Thank you, Lewis-McChord Communities