Our Rent Coverage functions as a traditional insurance policy, but the landlord is the beneficiary. The renter buys the policy to qualify to rent an apartment they may not otherwise qualify for, and the policy insures the landlord for the term of the renter's lease. If you fail to pay your monthly rent, the policy will reimburse the landlord, and you will still be liable to TheGuarantors for those payments. Rent coverage can be used in parallel with a cash security deposit or our Deposit Coverage product.