The lease guarantee provider now offers renters insurance from $15 per month alongside its lease guarantee and security deposit alternative, so property managers can offer all three in one place.
-- PandaGuarantee, a residential lease guarantee provider for renters and landlords, has added PandaRenters, a renters insurance policy for tenants across New York State. The company's core product is an insurance-backed lease guarantee that helps renters qualify for apartments without a personal guarantor and covers landlords for unpaid rent if a tenant defaults. PandaRenters complements the lease guarantee and the company's PandaDeposit security deposit alternative, giving landlords one place to offer all three.
Property managers can use the Panda platform to invite renters to add coverage during leasing. Policies start at $15 per month and can be bought online. Panda Renters Insurance covers personal property, living expenses if a unit becomes unlivable, personal liability, medical payments to guests and pet damage, with $500 of pet damage coverage included on every policy. Once a policy is bound, proof of coverage is issued to the property manager automatically, which removes the follow-up leasing teams normally do to confirm that a tenant has met the insurance clause in the lease.
"Our property partners already come to us for lease guarantee services, and most New York leases also require renters insurance," said John Rhodes, co-founder and president of PandaGuarantee. "Now their residents can handle both in one step."
PandaRenters is offered in partnership with MSI and sold by PandaGuarantee, a New York licensed insurance agency. Coverage is subject to policy terms, limits and exclusions, and renters may buy coverage from any provider.
The policy is available now to tenants in New York State. More than 31,000 apartment units are registered on the PandaGuarantee platform, and the company plans to expand renters insurance to other states soon.
About PandaGuarantee
PandaGuarantee is a residential lease guarantee provider and insurance agency for renters and landlords, based in New York. Its insurance-backed lease guarantee lets qualified renters secure an apartment without a personal guarantor while protecting landlords against unpaid rent, and its PandaDeposit product replaces the cash security deposit. The company now also offers PandaRenters renters insurance to tenants in New York State.
Contact Info:
Name: John Rhodes
Email: Send Email
Organization: PandaGuarantee
Website: https://www.pandaguarantee.com
Release ID: 89203895
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