KOHO launches renters insurance

Canadian fintech startup KOHO has launched a new renters insurance offering in partnership with Walnut Insurance.

Most KOHO members in Alberta, Ontario, Manitoba, Nova Scotia, and British Columbia can buy coverage from the KOHO app and choose from three coverage options for their items ($5k, $10k, and $15k). Policyholders also receive up to $1M in bodily injury liability; up to $100k in property damage liability; up to $10k in medical payments; and up to $100k in animal liability.

The companies are also giving users the option to receive a custom quote if they have different needs.

Founded in 2014, KOHO offers a no-fee spending and savings account with cash back and spending insights, among other things. The startup, which raised over $400 million in equity and debt, has over one million users.