What is the Insurent® Lease Guaranty Program?
The Insurent® Lease Guaranty Program is the first and only provider of institutional guarantees on residential leases. The Insurent® Lease Guaranty Program fulfills the need for a guarantor/co-signer when a landlord requires that a tenant have a guarantor or requires significant additional security or prepaid rent by the tenant in order to obtain an apartment.

   

Who is the Insurer of the Insurent® Lease Residual Value Policy?
The Insurent® Lease Residual Value Policy is underwritten and issued by Argonaut Insurance Company, a property and casualty insurance company licensed in New York and other states. Argonaut Insurance Company is rated A (Excellent) by A.M. Best, and is located at 225 West Washington, 6th Floor, Chicago, IL 60606.November 2007.

Under what circumstances would I need the Insurent® Lease Guaranty?
The Insurent® Lease Guaranty Program, where available, may help you when you do not meet the specific criteria required by landlords. Prospective renters who may fall into this category include graduating college students and professional school students entering the workforce; creditworthy employed non-U.S. residents; self-employed persons; relocating persons; non-employed U.S. and non U.S. persons with significant cash liquid assets, retired creditworthy individuals, U.S. students with Responsible Parties, and international students with Responsible Parties. The Insurent® Lease Guaranty typically may be used in any instance where a landlord would require the renter to have a third-party guaranty on a lease (e.g., a co-signer or guarantor). A lease guaranty may also be helpful when a landlord requires additional security or prepayment of rent as an alternative to, or in addition to, a co-signer or guarantor.

   

 

The website states that the annual income or collective annual income must equal a minimum of 27.5x the monthly rent. Can the Insurent® Lease Guaranty Program still assist me if my income is less than 27.5x the monthly rent?
Yes. The Insurent Program can still assist you if you have a Responsible Party. A Responsible Party would be a person (normally a father, mother or relative) here or overseas (if you are relocating from outside the U.S.) who meets either of the following tests: (i) such person(s) has a minimum annual income of approximately 50x the monthly rent you are seeking or (ii) such person has cash liquid assets or marketable securities equal to a minimum of approximately 90x the monthly rent that you are seeking. In the event that you are relocating from outside the U.S., the Responsible Party would be in your home country and the tests above relate to their income or cash liquid assets in their home country. In the event that you fall in that circumstance, please email us at renter-app@insurent.com so we can guide you through the application process.

   
 

Can the Insurent Program help me if I just have significant cash liquid assets or marketable securities?
Yes. The Insurent Program issues guarantees for non employed U.S. and non U.S. persons with significant cash liquid assets or marketable securities (here or abroad). In such event, such liquid assets would need to be a minimum of 45x the monthly rent that you are seeking. In the event that you fall in that circumstance, please email us at renter-app@insurent.com so we can guide you through the application process.