Jetty is a relatively new insurance company, founded in 2015 by a group of designers, engineers, and marketing executives who decided that the business of rental insurance could be different and better. So they created a company that promises “fast, affordable” renters insurance.
Although Jetty is new to the insurance industry, reputable and established financial institutions provide its backing. State National Insurance underwrites all of Jetty’s insurance policies. Markel Corporation provides backing for State National Insurance, and they are rated A (excellent) by A.M. Best. This rating indicates that they have the highest level of financial strength and should not face problems paying claims to policyholders. In addition, Jetty is backed by Munich Reinsurance Company.
With that in mind, here’s a look at Jetty’s renters insurance and how much it costs to get insured.
The cost of insurance coverage through Jetty depends on your location, the total dollar amount of coverage, and the policy deductible.
- The basic plan with the lowest amount of coverage ranges from $9.38 per month with a $2,500 deductible to $12.88 per month with a $100 deductible.
- The middle-tiered essential plan is the most popular plan and ranges from $14.63 per month with a $2,500 deductible to $21.30 per month with a $100 deductible.
- The premium plan offers the highest-dollar amount of coverage and ranges from $28.82 per month with a $2,500 deductible to $37.39 per month with a $100 deductible.
- The basic plan insures up to $10,000 for everyday belongings and $1,000 for portable electronics. It also provides $100,000 in liability insurance, $3,000 for loss of use, and $1,000 for medical payments.
- The essential plan insures up to $20,000 for everyday belongings and $1,000 for portable electronics. It also provides $200,000 in liability coverage, $6,000 for loss of use, and $1,000 for medical payments.
- The premium plan insures up to $40,000 for everyday belongings and $3,000 for portable electronics. It also provides $300,000 for liability coverage, $12,000 for loss of use, and $3,000 for medical payments.
If you don’t have a lot of belongings or require much coverage, the basic plan may be enough to meet your needs. The essential plan provides additional coverage in two key areas. The coverage for everyday belongings doubles to $20,000, and the loss of use coverage doubles to $6,000.
Loss of use coverage provides you with cash to use for rent or hotel costs when you cannot use your apartment due to damage. So the additional coverage might be worthwhile in those circumstances.
The premium plan increases coverage in every area. This is the only plan that offers more than $1,000 for portable electronics. If you have expensive electronics and other personal property, it’s probably worth an upgrade to the premium plan.
Jetty also offers some extra endorsements that the company calls “power ups.” These include Airbnb host protection in the event of damage not related to the guests you are hosting. They also offer passport deposits and passport leases in which Jetty acts as a co-signer on your lease or helps to fund your security deposit.
Requirements to Get Insured
In order to get rental insurance through Jetty, you need to live in an area where the company offers coverage. The application process is relatively quick and easy. As long as you have a good credit history, you should be approved for an insurance policy with Jetty.
Jetty doesn’t have an online claims process. In addition, they won’t extend coverage to renters with certain dog breeds.
Jetty does not offer insurance coverage in Hawaii, Florida, North Carolina, Indiana, Missouri, Connecticut, or Rhode Island.
Customer service reviews from Jetty customers are generally positive. One consumer complained about the lack of discounts.