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Swiss Re’s iptiQ and ImmoScout24 to launch digital loss-of-rent insurance

The new product will provide private landlords with protection against the financial uncertainties from tenancy agreements.

Swiss Re’s iptiQ and German-based ImmoScout24, a leading online real estate platform, have recently announced its plan to launch a loss-of-rent insurance product, according to the media. The new product will provide private landlords with protection against the financial uncertainties from tenancy agreements.

Customers of ImmoScout24 will be covered with iptiQ insurance for the complete or partial loss of up to six months’ rent including additional costs. It covers a maximum of $11,927 with annual premium beginning at $48.78. The loss-of-rent insurance is now available in the German market and can be signed up easily and managed online. It is valid for a year from the start of a new tenancy and can be cancelled on a daily basis.

Andreas Schertzinger, chief executive officer of iptiQ addressed the media and said, “With ImmoScout24, we have found the ideal partner in Germany to offer customers tailor-made household insurance products online precisely when it matters. Thanks to the seamless integration of our product into ImmoScout24’s digital ecosystem, customers can insure themselves against the risk of rent-related losses directly online and throughout the rental process.”

Ralf Weitz, managing director of ImmoScout24 also expressed that with the help of the digital loss-of-rent insurance the firm can provide private landlords with an innovative service that makes renting out a property safe for them. The new partnership will also help in achieving the same by minimizing the impact of losses. He further added that the insurance will be of much help when tenants cannot meet the rent payments due to Covid-19 pandemic.

ImmoScout24 is the registered agent for the loss-of-rent insurance while the insurance related aspects are covered by iptiQ. It includes the process from issuing of policies, management of contracts to the settlement and payment of claims.

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