CUNA Mutual Targets Landlords With Launch of Renter SafetyNet
CUNA Mutual Group’s innovation lab is up to something, and that something is called ‘Renter SafetyNet’; a program launched in Wisconsin to offer landlords coverage against loss of income. “An income loss can throw a family’s financial security into jeopardy, making it difficult to pay rent and keep a roof overhead, and this impacts landlords’ ability to bring in rental income. A program like Renter SafetyNet not only helps landlords protect their income, but also keeps tenants in their homes ” – VP, Product Development at Renter SafetyNet, Dan Murray. Look:
Three things to note. One. The policy pays rent in the case that a tenant becomes unemployed or disabled. Two. The specific amount paid will depend on the actual rent of the unit. Three. Renter SafetyNet is issued for a one-year term and is non-renewable. After one year, the insurer will reach out to the policyholder to discuss the terms of renewal.
PS. Renter SafetyNet is the sub/sister-brand of SafetyNet that was established to provide income protection solutions.