(Image source: TenantCloud.)
Assurant (New York), a global provider of insurance and other risk management solutions, has partnered with TenantCloud (Austin, Texas), a cloud-based rental accounting software startup, to offer landlords and tenants in the an easily managed digital solution for acquiring renters insurance.
Describing the process, a TenantCloud statement says that, “landlords can help protect their rentals by requiring their tenants to have Renters Insurance and tenants can protect their belongings by securing Renters Insurance directly on the TenantCloud app. With low monthly rates, the policy can help cover both a renter’s belongings and offer liability coverage for the landlord’s asset. This integration allows Assurant to provide up to date information about the policy in the convenience of the TenantCloud app.”
TenantCloud reports that it focuses on the largest rental market in the U.S.—the do-it-yourself landlords and tenants of single family rentals. While established competitors focus on selling their software to large property management companies of apartment buildings, TenantCloud’s service is free to the estimated 14 million landlords and 70 million tenants.
Lowering the Risk of Renting
“The Assurant partnership will help tenants and landlords lower the risk of renting which will save renters money and lower costs for landlords. It is a win-win and we’re happy to bring such a solution,” comments Joe Edgar, CEO, TenantCloud.
TenantCloud characterizes its agreement with Assurant as advancing its goal innovate in the online property management technology market through making landlords’ and tenants’ lives eaiser. “Renters Insurance is valuable to both tenants and landlords,” the TenantCloud statement asserts. “Having it as a requirement for renters assists in protecting the rental in the event of accidental damages caused by the tenant. Renting families also benefit from Renters Insurance. In the event of a fire or a burglary, families can be protected by having their belongings replaced or assisted with additional living expenses if they are displaced because of a covered event.”