Renter’s Insurance:

The Resident, or all Residents as a group if there are multiple Residents, will obtain and maintain insurance with liability coverages of at least the minimum amount listed ($100,000). If there are multiple Residents, all must be named insureds on the policy, or at the Residents’ option, they may each obtain a policy with limits in the minimum amount listed. Oregon law provides that no insurance may be required if: a) the household income of all of the Residents in the Unit is equal to or less than 50 percent of the area median income, adjusted for family size as measured up to a five-person family; or b) if the dwelling unit has been subsidized with public funds, not including housing choice vouchers. Resident will supply Owner/Agent with evidence of renter’s insurance prior to occupying the unit. Resident must name Owner/Agent as an interested party on Resident’s renter’s liability insurance policy authorizing the insurer to notify Owner/Agent of: (A) cancellation or nonrenewal of the policy; (B) reduction of policy coverage; or (C) removal of Owner/Agent as an interested party. Owner/Agent may require documentation that: (a) Resident has named Owner/Agent as an interested party on Resident’s renter’s liability insurance policy; or (b) that Resident’s liability insurance is in effect on a periodic basis related to the coverage period of the renter’s liability insurance policy or more frequently if Owner/Agent reasonably believes that Resident fails to maintain the renter’s liability insurance. Failure to maintain such insurance in full force will be considered a material non-compliance with the Rental Agreement. Owner/Agent may require that Resident obtain or maintain renter’s liability insurance only if Owner/Agent obtains and maintains comparable liability insurance and provides documentation to any Resident who requests the documentation, orally or in writing. Owner/Agent may provide documentation to Resident in person, by mail or by posting in a common area or office. The documentation may consist of a current certificate of coverage. If insurance is not required by the Rental Agreement, Resident should maintain renter’s insurance to cover Resident’s liability to Owner/Agent, as well as damage or destruction of Resident’s property. Whether or not renter’s insurance is required, Resident is not a co-insured under, and has no rights to, Owner/Agent’s insurance policies. Except to the extent required by law, Owner/Agent is not responsible for, and its insurance does not cover damage or destruction to, Resident’s property.