How to use Jetty, the modern solution to traditional renters insurance that’s affordable and easy to understand

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• For various reasons, some renters can’t fulfill the security deposit or guarantor requirements of a new lease, putting them at a disadvantage for finding a stable living situation. 
• Jetty is a new company that helps them fulfill these requirements and also offers affordable renters insurance to cover their belongings when worst-case scenarios happen. 
• Ultimately, Jetty aims to be a reliable service that gives people the security and peace of mind to focus on other important parts of their life. 

Moving to a new apartment is exciting, but also stressful and nerve-racking. All the logistical steps you need to take before even physically getting into the space usually squash any positive feelings about the move. And once you’re living and settled in your new place, the worries — ranging from leaky pipes to home break-ins — don’t stop. 

The mission of insurance and financial services startup Jetty, therefore, is to remove the obstacles and risks of renting and to protect renters against setbacks of all kinds.

More approachable and user-friendly than traditional insurance providers, Jetty is a modern solution to age-old problems: how to protect the stuff you value, pay for the home you want, and assure your new landlord that you’ll be a responsible tenant. 

Though individual circumstances differ and you should request a quote from the company for more personalized insights, in general Jetty can help you save money and get through hurdles that might have previously prevented you from renting or getting renters insurance. 

Jetty offers three products, all of which are available in most states (see the full list of eligible states here): 

1. Traditional renters insurance (property, liability, loss of use, and medical payments)
2. Passport Deposit (covers security deposit)
3. Passport Lease (covers lease guarantor requirements)

You can use Passport products if Jetty supports the building you’re applying to. 

Below, we go into more detail about each of these solutions and everything you need to know about Jetty. Visit Jetty to get your personalized renters insurance quote here.

Like most renters insurance policies, Jetty’s basic renters insurance plan has four main features.

Jetty

Renters insurance covers the things in your apartment. While landlords will pay for repairs from incidents like broken pipes or fires, they can’t pay for your possessions that were damaged as a result of the incident.

Jetty’s renters insurance covers:

1. Property (contents): Your clothing, furniture, and anything else (with certain restrictions) that is stolen, lost, or damaged. A benefit of renter’s insurance is that it travels with you, so no matter where you’re living, your belongings are covered.
2. Loss of use: If you’re unable to live in your apartment due to damage, Jetty will pay for alternative living expenses like a hotel. 
3. Liability: Accidents happen. If you cause damage to a neighbor’s property, Jetty helps pay for associated fees. 
4. Medical payments: If you need to cover someone’s medical bills due to an incident on or near your property, Jetty helps pay for the bills. 

Get a quote for renters insurance at Jetty here.

Power-Ups are extra protections that you can add to your plan.

Jetty

Typically called endorsements, Power-Ups are attachments to a policy that modify it for special circumstances. Available Power-Ups include: 

• Valuables Protection: For items worth over $ 1,000 and covers jewelry, music and audio gear, photo and video gear, sports equipment, wine collections, and more. 
• Personal Electronics Protection: Personal electronics items like smartphones, tablets, and laptops, although “heavier-duty” electronics like your TV are covered by the Basic renter’s insurance plan.
• Jetty Bedbugs Power-Up: If a licensed pest control professional certifies that you have bedbugs, Jetty will give you $ 300 to help you offset the costs of dealing with it.
• Airbnb Host Theft Protection: Includes theft or losses that result from a guest’s negligence. 

In addition to renters insurance, Jetty offers “Jetty Passport” if the building you’re applying to supports it. One part of Jetty Passport is “Passport Deposit,” which is a security deposit bond.

Jetty

You pay just 17.5% of the deposit, and it’s not a loan. If you owe your landlord for any damaged property when you move out, he or she can file a claim with the surety company (which is who you bought the security deposit bond from). The surety company pays the landlord, who can claim up to $ 1,000, on your behalf, then bills you. 

This is beneficial because it cuts down the high cost of moving in to a new place: You don’t need to pay such a large upfront fee with money you might not have. On the other hand, a traditional security deposit is refundable if there’s no damage at the end of your lease, while a surety bond is not. 

Learn more about Passport Deposit at Jetty here.

See the rest of the story at Business Insider

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