In an attempt to make rental insurance easier, InsurTech company Root Insurance is launching a new renters insurance product.
The new product will cover both personal properties and liability from accidents, but also things like temporary living expenses and theft.
The new renters insurance product will add to Root Insurance portfolio, which already includes auto insurance.
“More than half of renters don’t have insurance that covers them and their valuables, and many that do have insurance admit they don’t know enough about what it covers,” said Alex Timm, Co-Founder and CEO of Root. “With Root renters insurance, we will help our customers feel more knowledgeable about their coverage while offering them peace of mind at home for a low cost.”
Root Insurance uses data analytics and machine learning to create customised insurance rates for car owners based on their actual behaviour.
