Wilson Peak is an Asset-run liability waiver program intended to satisfy the tenant liability requirements in most standard leases. When the resident is enrolled in the PDLW, the resident will have waived liability for up to $100,000.
This program is NOT a renter's insurance policy (HO-4) nor is it intended to replace a renter’s insurance policy and it should not be sold or advertised as such. Doing so may result in serious legal repercussions.
The resident is NOT an insured under the waiver and therefore will not receive any proof of coverage. The named insured is the Owner/Property, and the unit/bed is added under their program to protect the owner for property damage caused by resident negligence for the covered perils.
The unit/bed must be entered in the site's operating system immediately upon move-in or lapse of their own renter’s insurance policy. If a unit/bed has a covered loss but has not been entered into the site's operating system showing the waiver, the insurance carrier will not cover the loss.
Perils covered (but no limited to): fire, water discharge, and pipe leak.
Perils NOT covered (but not limited to): theft, burglary, bodily injury, personal injury, acts of nature, criminal acts, or maintenance issues.
Overview Video Link:
Audit Training Video Link: