Rockville, Md.-based First Advantage SafeRent and its Multifamily Community Insurance Agency subsidiary, have unveiled a new resident liability policy.

The product, a part of the companies’ RegistryTLC renter’s insurance program, is designed to help residents get needed coverage under lease provisions in the current economic climate.

Through a secure website, residents can enroll and provide payment in minutes without any leasing staff involvement, First Advantage SafeRent said. The policies cover the resident for specified types of property damage or bodily injury they could potentially cause to the apartment community or to other residents.

Nevel DeHart, executive vice president for First Advantage SafeRent, said renters insurance “becomes particularly important during times when everyone is paying close attention to expenses.”

“If a resident has a covered incident that causes damage to their apartment, renters insurance provides coverage instead of the resident facing a potentially large out-of-pocket expense,” DeHart said. “The Resident Liability Policy will provide residents with a most affordable insurance option for complying with their lease requirements. Along with the new Resident Liability Policy, we are also introducing the option for monthly payments by credit card – making purchase of the policy even more convenient and budget friendly.”

The policy is currently available in 22 states, including Delaware and Pennsylvania and the District of Columbia.