Property Management and Rental Insurance: A Match Made In Heaven

The rental insurance market has always been a troublesome one for insurance providers. It’s difficult to convince someone to purchase something that they feel like they don’t need. The reality of the situation is, if you are renting a living space, you need rental insurance. Property managers are starting to take note of this as well and many apartment complexes now require proof of rental insurance before they’ll allow you to live there. Knowing this, it makes sense for property managers and providers of rental insurance to work together. This is exactly what Cozy and Assurant are starting to do.

Cozy, is a well-known online property management site for landlords, property managers and renters. Assurant is an insurance carrier that will now offer rental insurance directly through Cozy’s online property management platform. This partnership will allow tenants of landlords who require rental insurance to seamlessly purchase Assurant’s coverage through Cozy–making the experience has quick and easy as possible. If coverage is not required, tenant can still get a rental insurance quote through the system.

Brian Ellin, vice president of Product for Cozy, spoke with the Insurance Journal, telling them that “…the company wanted a simple policy for its rental and landlord users. And because Cozy already has facilitated the relationship between the landlord and the tenant and verified a person’s identity, the basic underwriting information needed to quote and offer a policy is readily available.”.

The speed at which a prospective client can purchase rental insurance and the ease of having all pertinent property management information ready in the same place is the crux of what makes this partnership special. Hopefully, we see more insurance carriers and property management companies working together to bring rental insurance to the masses.

If you already are renting a home, or are looking to rent one in the near future, you absolutely should invest in renters insurance. While partnership’s like the one between Cozy and Assurant are fantastic, they are still in their early phases. This means that utilizing this service may not give you the best price! Take the time to consult with an insurance professional about what policy is right for your needs. If you want a professional opinion, reach out to the people at TGS Insurance, they’re always happy to help! Visit www.tgsinsurance.com for more information.

Sources:

http://www.insurancejournal.com/news/national/2017/08/22/462039.htm