Goodcover is live in California

Y Combinator-backed Goodcover has launched its renters insurance product in California. The San Francisco-based MGA is operating as a cooperative “conducting business for the mutual benefit of [its] Members.”

Coverage starts at $5 a month and is offered in partnership with Knight Insurance and TransRe.

Get a feel for the flow below.

The company which was launched in 2017 also has a referral program in place; “We don’t waste money on celebrities and TV ads, so we have a simple proposition instead: invite your friends to join Goodcover, and you’ll both earn a month of free insurance.”

Bottom Line: Competing with unicorns.