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.

What’s Covered: The Renter’s Belongings

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.

NOT included in property coverage*:

  • Wear and tear, marring or deterioration

  • Unexplained or mysterious disappearance

  • Illegal, unlawful or intentional acts

  • Earth movement, including earthquake

  • Any loss resulting from mold or wet or dry rot

  • Enforcement of any ordinance or law regulating the construction, repair or demolition of a building or other structure

  • Power interruption, if the interruption takes place away from the residence premises

  • Neglect to use all reasonable means to save and preserve covered property at and after the time of loss

  • Continuous or repeated seepage or leakage of water or steam over a period of time

  • War or any warlike operation

  • Nuclear hazard

  • Illegal, unlawful or intentional acts of an insured or a guest of an insured

*This is a summary of general exclusions. Please refer to the full policy for a complete list of all exclusions, coverages, and limitations.

What’s Covered: Liability

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.

Key features of liability coverage:

  • Protects the homeowner in the event the renter is found legally liable for property damage to the homeowner’s belongings or home structure

  • Allows homeowner to receive payment directly from the insurance company for covered losses, reducing administrative burden and back-and-forth with the renter

NOT included in liability coverage:*

Bodily injury or property damage…

  • Resulting from any act or omission that is intended by an insured to cause any harm

  • Arising out of any insured's business pursuits

  • Arising out of the rental or holding for rental of any residence premises owned by the policyholder

  • Arising out of the rendering or failing to render professional services

  • Arising out of any premises other than the residence premises

  • Vehicles

  • Arising out of mental or emotional injury, suffering, or distress that does not result from physical injury

  • Arising out of physical abuse

  • Arising out of the use, sale, manufacture, delivery, transfer, or possession by any person of a controlled substance

  • Arising out of the insured's knowingly permitting or failing to take action to prevent the illegal consumption of alcoholic beverages by an underage person

  • Arising out of any sexual act

*This is a summary of general exclusions. Please refer to the full policy for a complete list of all exclusions, coverages, and limitations.

What’s Covered: Loss of Use

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.

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