- 783
Travelers creates online personal insurance product for millennials
I was reading about this and I just don't get it. Travelers says this is meant to serve as an alternative to renters insurance. From what I am seeing, alternative meaning less coverage, more premium, promoting zero deductible and OK to put claims in - up to three times per year.
I went to the website and quoted myself, using my sisters address in NY. Went with the "I Love My Stuff" option which only includes cell phones, sporting equipment, musical instruments, jewelry, personal electronics, cameras and - for the women - an add on for handbags. I quoted with my phone, laptop, bike camera and $1000 for jewelry. Quote came back at $38/month. It is not clear on any of the other policy details, such as perils covered or any other personal property. Some form of liability is included, but not disclosed - 'enough to satisfy most landlords'.
Is this really what Millennials want? - No deducible, only insure the stuff they specifically ask to be covered, use the policy up to three times per year?
Travelers creates online personal insurance product for millennials | PropertyCasualty360
And similar InsurTech ideas are soon to enter the commercial arena? Buyer Beware!
Dave
I was reading about this and I just don't get it. Travelers says this is meant to serve as an alternative to renters insurance. From what I am seeing, alternative meaning less coverage, more premium, promoting zero deductible and OK to put claims in - up to three times per year.
I went to the website and quoted myself, using my sisters address in NY. Went with the "I Love My Stuff" option which only includes cell phones, sporting equipment, musical instruments, jewelry, personal electronics, cameras and - for the women - an add on for handbags. I quoted with my phone, laptop, bike camera and $1000 for jewelry. Quote came back at $38/month. It is not clear on any of the other policy details, such as perils covered or any other personal property. Some form of liability is included, but not disclosed - 'enough to satisfy most landlords'.
Is this really what Millennials want? - No deducible, only insure the stuff they specifically ask to be covered, use the policy up to three times per year?
Travelers creates online personal insurance product for millennials | PropertyCasualty360
And similar InsurTech ideas are soon to enter the commercial arena? Buyer Beware!
Dave
