ATLANTA--(EON: Enhanced Online News)--Assurant (NYSE:AIZ), a global provider of risk management solutions, announces its partnership with Vacasa, the second largest U.S. vacation rental management company, providing liability coverage and property insurance for Vacasa’s homeowners.
“Our partnership with Assurant bridges an important gap, as many home insurance policies don’t cover rental use. With Assurant, our homeowners are protected, and can enjoy peace of mind while guests enjoy their houses.”
Assurant’s short-term accommodations protection program will be available to the more than 4,600 U.S. homeowners in the Vacasa network, offering up to $1 million in liability coverage and up to $10,000 in contents coverage. Cost of the use-based coverage is built into the rental transaction, to provide protection as needed with each rental.
Assurant’s partnership with Vacasa comes as the company expands its risk management expertise into the sharing economy.
“At Assurant, we’re focused on risk management across the housing spectrum, and this is a great example of bringing that expertise to a leader in the fast-growing vacation rental market,” said Kunal Malhotra, vice president, Innovation, for Global Specialty, a business unit of Assurant.
“At Vacasa, we manage vacation rentals in some of the most desirable destinations across the U.S., Europe, Central and South America,” said Vacasa founder and CEO Eric Breon. “Our partnership with Assurant bridges an important gap, as many home insurance policies don’t cover rental use. With Assurant, our homeowners are protected, and can enjoy peace of mind while guests enjoy their houses.”
The Vacasa partnership is the latest in a series of technology-based innovations in risk management from Assurant, which also safeguards millions of electronics owners, car- and home-sharing clients, and small package shippers.
Vacasa is the second-largest U.S. technology-enabled full-service vacation rental company. Leveraging proprietary technology, Vacasa drives revenue for homeowners and provides a seamless experience for guests. Founded in 2009 and based in Portland, Oregon, Vacasa manages a growing portfolio of more than 5,100 vacation homes in the U.S., Europe, and Central and South America. In seven years, Vacasa has grown from two to more than 1,400 employees, has been honored as the Oregon Better Business Bureau Large Business of the Year and was ranked ninth on the Inc. 5000 Fastest-Growing Companies list. For more information, visit https://www.vacasa.com.
Assurant, Inc. (NYSE: AIZ) is a global provider of risk management solutions, protecting where consumers live and the goods they buy. A Fortune 500 company, Assurant focuses on the housing and lifestyle markets, and is among the market leaders in mobile device protection; extended service contracts; vehicle protection; pre-funded funeral insurance; renters insurance; lender-placed homeowners insurance; and mortgage valuation and field services. With approximately $30 billion in assets and $6 billion in annualized revenue as of September 30, 2016, Assurant is located in 16 countries, while its Assurant Foundation works to support and improve communities. Learn more at assurant.com or on Twitter @AssurantNews.