iptiQ teams up with ImmoScout24 to provide landlords with rent loss insurance

Swiss Re’s iptiQ has teamed up with ImmoScout24, an online real estate platform, to provide landlords with insurance products to protect them from uncertainties with renting.

The InsurTech company claims two-thirds of private landlords have encountered issues with renting, including irregular, incomplete or missing rent payments. Despite this, 90% do not have rent insurance. This revelation led to the companies teaming up.

The agreement will provide ImmoScout24 customers with access to digital loss of rent insurance products. If there is a difficulty with rent payments, the insurance will cover the complete or partial loss of up to six months’ rent or a maximum of €10,000. Annual premiums start at €40.90.

ImmoScout24 managing director Ralf Weitz said, “The digital ImmoScout24 loss of rent insurance means that we can provide private landlords with an innovative service that makes renting out a property safer for them.

“Alongside our cooperation partner iptiQ, we can help make renting even easier, while minimising the impact of losses. This is particularly relevant if tenants experience difficulties meeting rent payments as a result of the COVID-19 pandemic – and other factors, of course.”

iptiQ provides property & casualty and life & health insurance services that enables companies to offer digital insurance solutions to their customers.

iptiQ recently signed a partnership with Bindable, a digital property and casualty distribution platform. The partnership will help to build a connected ecosystem of products and services that supports brands, consumers and agencies.

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