Lockbox Insurance

The use of digital hanging lockboxes had already become common practice in the home rental industry prior to the COVID Pandemic.  At the beginning of the Pandemic it became a universal requirement.  During the Pandemic it became evident that Rental Customers would prefer to view properties at their convenience and without having to schedule an appointment with an Agent.

Digital hanging lockboxes can produce approximately 10 to 1 more showings than Agent Escorted Showings will.  Without question this is the quickest way to find a Tenant.  However there are risks associated with the use of digital hanging lockboxes that include, but are not limited to: squatters, vandalism, theft, property damage, etc.

Lockbox Insurance is available for properties with an active listing and management agreement to cover up to $5,000 in loss due to the use of digital hanging lockboxes attached to the property for the purposes of facilitating a “self-showing” to determine the property’s suitability to lease.  Coverage is provided for theft, vandalism, or any person or persons taking possession of the property without permission who then require eviction. 

Lockbox Insurance is not available for any property where access is provided by anyone except the Broker.  This means that Lockbox Insurance is not available in situations including but not limited to:  

  • The property is also on an MLS Supra Lockbox
  • The property also has a combination lockbox
  • The property also has digital access under the control of the Owner or another Broker