Sparrow's Tenant Coverage, provided in partnership with Walnut Insurance Inc. ("Walnut"), offers protection to housemates who sign a Boarding Agreement or Rental Agreement through Sparrow. Walnut acts as the broker, facilitating the insurance coverage, while Millennial Specialty Insurance, LLC (MSI) underwrites the actual insurance policy.
Once housemates complete their agreement signing and payments through Sparrow, they are automatically enrolled in the Resident Liability Insurance policy.
This policy provides coverage for bodily injury and property damage liabilities, as well as animal liability and additional living expenses resulting from covered losses. It's important to note that coverage is contingent upon housemates adhering to the payment schedule outlined in their agreement.
However, if a housemate's boarding fee payment is delayed for more than fourteen (14) days, Sparrow will notify Walnut to cancel the housemate’s enrolment in the Resident Liability Insurance policy, and coverage will be discontinued.
In such cases, the housemate will not be protected under the Resident Liability Insurance policy, and any claims made during the period of non-payment will not be covered.
Housemates will be notified of impending coverage discontinuation due to payment delays and will have the opportunity to rectify the situation within the given timeframe to avoid cancellation of the insurance coverage.