Now renters can get insurance through Cozy, and landlords can verify those policies in real time.
I’ve been using Cozy to manage my own properties for over four years, and it’s saved me nearly $100,000 in property management fees. Cozy helped me streamline my rental business and I haven’t had a single late rent payment since I started using it.
But I never found a way to require that my tenants get, and keep, renters insurance for the entire lease. Even though it was required in my lease, getting insurance was complicated and time consuming for my tenants, and it was even more difficult for me to ensure that they kept the policy active.
Today, I’m pleased to announce a solution to both problems: now renters insurance is available through Cozy!
Goodbye hassle, hello @CozyCo! Renters insurance just got easier for everyone.
Renters can get affordable, comprehensive coverage in minutes, and landlords can verify those policies. Cozy has partnered with Assurant, a trusted insurance provider, to make getting great coverage easy and fast.
Free Webinar: September 14, 2017
A Landlords Guide to Renters Insurance
What’s renters insurance?
Renters insurance protects renters and landlords.
For starters, renters insurance covers a renter’s personal belongings, something a landlord’s property insurance doesn’t cover. Without renters insurance, a renter would have to pay to replace everything stolen in a burglary or damaged by a fire. Renters insurance will cover the cost to replace a stolen bicycle or laptop, even if the theft happens someplace other than home.
It also protects renters from liability if they accidentally damage their place. If a renter accidentally starts a kitchen fire or overfills the bathtub, with renters insurance they won’t be liable for the damages, even if they damage a neighbor’s place.
That liability coverage benefits landlords, too. Without renters insurance, a landlord could be responsible for the cost of damages and repairs.
Renters insurance in Cozy
In Cozy, landlords can show renters if they require renters insurance in their lease.
Then renters can purchase insurance in Cozy in just a few minutes, without going through a tedious application process. They’ll get an instant quote based on their location. Renters can make low monthly payments or get a discount if they pay yearly.
Policies cover $15,000 in personal property and $100,000 in financial liability if they accidentally damage the rental, or if someone hurts themselves there and tries to sue them for it. The maximum they’ll have to pay to get reimbursed for a loss is just $250.
Landlords can verify coverage
Most landlords require renters insurance in their leases. But there hasn’t been an easy way for landlords to reliably verify if renters have a current policy. With Cozy, they can.
When renters get a policy through Cozy, landlords can verify they have coverage for the entire term of a lease. That means landlords who require renters insurance now have a simple way to ensure their renters are covered in real time.
If renters purchase a policy outside Cozy, they can upload details about their policy, so their landlords can see it.
The bottom line
With renters insurance, both renters and landlords can relax knowing they’re covered. That means less stress all around, which is part of Cozy’s mission to make renting easier for everyone!
Legal: Coverage limits, conditions, and exclusions will be as set forth in the applicable policy documents. All insurance products are being offered through Cozy Insurance Services, LLC (doing business in California as Cozy Home Insurance Agency) as agent for Assurant, Inc.’s subsidiary insurance companies.