Goodcover launches in three new states

Renters insurance provider Goodcover has launched its “member-focused renters insurance” in three new states: Texas, Arizona, and Nevada. The startup is now available in four states after first launching in California in early 2020.

Founded in 2017, Goodcover publicly disclosed $9.5 million in funding and it is backed by several investors including Y Combinator and TransRe. It is a team of ~8 and its site averaged ~18k monthly visits since the beginning of the year.

The MGA returns unused funds from premiums to the customer through its Member Dividend if any are available and in 2021, Goodcover returned 1.93% of the collected premiums to its members.

“We’re excited to add Texas, Arizona, and Nevada to our covered states. In the past year alone, these communities have faced massive rent increases, severe weather phenomena, and inflation rates higher than we’ve seen in decades. Renters in these states need to know their insurance will support them – swiftly – in an emergency. By providing high-quality, low-cost coverage for renters in these states and returning unused premiums at the end of the year, we hope to ease some of the financial burden that renters face.” – Chris Lotz, CEO, and co-founder of Goodcover.