Goodcover provides affordable, modern insurance to tenants in Texas, Arizona and Nevada

“By providing high-quality and low-cost coverage to tenants in these new states and returning unused premiums at the end of the year, we hope to alleviate some of the financial burdens facing tenants. -Chris Lotz, CEO, Goodcover

Goodcover, an affordable and modern insurance provider, announced today that it has launched its member-focused tenant insurance in three new states: Texas, Arizona and Nevada. With this extension, Goodcover now reaches one-third of all tenants in the United States. Today, the three states are joining California to gain access to comprehensive tenant insurance plans at wholesale prices, starting at $ 5 / month.

“We are excited to add Texas, Arizona and Nevada to our covered states,” said Chris Lotz, CEO and co-founder of Goodcover. “In the last year alone, these communities have faced huge increases in rents, severe weather events and higher inflation than we have seen in decades. Tenants in these states need to know that their insurance will support them – quickly – in an emergency. By providing high-quality and low-cost coverage to tenants in these states and returning unused premiums at the end of the year, we hope to alleviate some of the financial burden facing tenants. “

This new extension is part of Goodcover’s mission to make financial security accessible to all by returning insurance to its cooperative roots. Designed with today’s tenants in mind, Goodcover uses accurate estimates that overcome traditional risk bias – many of which have existed for decades – to ensure they don’t pay Goodcover members overcharges for coverage they don’t need. The result is that Goodcover members save money with wholesale coverage plans of the right size. The Y-Combinator-backed company then consolidates member premiums, pays claims and charges a fixed operating fee.

Each year, the company returns the unused funds from the client’s premiums through its dividend for members, if any. In 2021, Goodcover returned 1.93% of the collected premiums to its members. This unique advantage has earned the company’s loyalty in California; The loyalty score of the company’s NPS customers is almost twice as high as the industry average.

“The result of Goodcover’s NPS shows how happy the members of our renewed approach to insurance are, and I’m proud of that,” said Lotz. “There is no shortage of stories and statistics about how people in the mid-20s and 30s struggled in today’s economy – and this is especially true for people who do not own their own homes. Goodcover believes that the world of finance should make money by serving people, not undermining them, and I think the core belief is essential to why members are so happy with our services.

With today’s news, tenants in California, Texas, Arizona and Nevada can visit the Goodcover website, enter their zip code and receive a free offer backed by the company’s low price guarantee.

Goodcover plans to expand its products and coverage to serve as many people as possible. For more information, visit http://www.goodcover.com.

About Goodcover

Goodcover makes fair and modern tenant insurance accessible to all. The company uses new, efficient technology and accurate risk assessment to provide insurance plans for cooperative tenants starting at $ 5 / month. Goodcover’s cooperative model pays claims quickly and returns all unclaimed funds to members annually through Goodcover’s dividend program.

Supported by Y-Combinator, Goodcover’s investors include Goodwater Capital, Fuel Capital, Broadhaven Ventures, Global Founder Capital and Liquid 2. Affordable Goodcover insurance started in 2020 and is currently available in California, Texas, Arizona and Nevada. with plans to expand across the country. For more information, visit http://www.goodcover.com.

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