Jetty Renters Insurance Review - Pros, Cons, and Coverage

A modern renters insurance company that offers extra coverage for home sharing hosts, as well as help with security deposits and co-signing on leases.

Renters insurance doesn’t always cover everything you need it to. But with Jetty Renters Insurance, you can get coverage for the items and situations you want, whether you’re at home or abroad.

We love the variety of options Jetty offers to renters, and that members can get additional discounts on goods and services thanks to the exclusive partnerships the company has built.

This guide will give you more information about buying renters insurance, what it covers, and why we think Jetty is a great choice for your renters insurance policy.

Jetty: What You Need to Know

Jetty is a relative newcomer to the renters insurance market, and it was developed with younger, more urban renters in mind. When the founders went looking for their own renters insurance, they found outdated coverage designed more for suburban living than life in a city.

They designed Jetty to be available to cover everything modern consumers want covered, from protecting expensive electronics and jewelry to combatting pesky bed bugs.

Applications are fast and online, allowing for quick decisions and coverage. You even can get help paying for your security deposit or finding a co-signer for your lease with Jetty Deposit or Jetty Lease Guaranty.

How Does Jetty Renters Insurance Work?

Renting isn’t always easy. You have to deal with rowdy neighbors, repairs that you don’t control, and have to trust that everyone else in your building takes out their trash in a timely manner. Protecting your belongings - and your financial future - is essential as a renter.

Jetty renters insurance provides protection for those unexpected moments, such as smoke damage from a minor fire, theft of your pricey TV, and even damage your laptop incurs on that backpacking trip to Europe. If you own it, Jetty will cover it.

And if you’re forced out of your building by a fire, flood, or other event, Jetty pays for a hotel room until you can get back into your place.

Replacement Costs Covered

While many renters insurance companies cover the “actual cash value” of your belongings, Jetty covers the “replacement cost.” That means you’ll be paid the amount it would cost you to replace that couch that’s seen better days with a similar, new couch, not the amount your insurance company determines your ratty couch was worth. In other words, on average, Jetty pays more in individual property claims than most other insurance companies.

Jetty’s insurance coverage begins with their Basic Renters Insurance Plans, which covers many situations of loss or damage to your property, expenses if your place is uninhabitable, and medical bills for people who may be hurt in your apartment.

Power-Up Coverage

For items such as personal electronics, expensive jewelry, or anything with a value over $1,000, Jetty offers “Power-Ups,” or additional coverage over and above the limits provided for in the Basic Renters Insurance Plan.

These Power-Ups cover more expensive items, as well as replacement for a wider variety of situations than regular renters insurance.

You can get a quick quote - or “price,” as Jetty calls it - by answering a few simple questions on their site.

Who Is Covered?

If you live with your significant other or a few roommates, you may wonder who is covered under your renters insurance plan.

A Jetty renters insurance policy covers:

• The policyholder
• The policyholder’s legal spouse
• The policyholder’s dependent children

Jetty does not automatically cover:

• The policyholder’s significant other who is not a legal spouse
• Any roommates

These individuals need to purchase their own separate renters insurance policies.

Where Is Jetty Insurance Available?

Jetty Renters Insurance is available in 45 U.S. states, with Florida, Hawaii, Indiana, Missouri, and North Carolina not covered.

Jetty does plan to roll out Renters Insurance coverage to all 50 states by the end of 2019.

How Much Does Jetty Cost?

The price of a Jetty Renters Insurance plan depends on your location and desired coverage level.

A $10,000 policy level starts under $10 per month with Jetty, less than most insurance companies.

A Basic Renters Insurance Plan costs less than one that covers additional personal electronics or expensive valuables. However, the price you’ll pay in renters insurance premiums per month will more than pay off in the event that you need to make a claim.

What Does Jetty Renters Insurance Cover?

All Jetty Basic Renters Insurance Plans cover four basic categories of loss or damage:

• If something happens to your things
• If your rental property becomes uninhabitable
• If you cause injury to another person or damage their things
• If you have to cover someone’s medical bills

However, these plans only cover loss or damage based on certain conditions, including:

• Fire or lightning
• Windstorm or hail
• Explosion
• Riot or civil commotion
• Aircraft that crashes into your property
• Vehicles that crash into your property
• Smoke
• Vandalism or malicious mischief
• Theft
• Falling objects, such as meteors
• Weight of ice, snow, or sleet that causes damage
• Accidental discharge or overflow of water or steam (ex: Your neighbor’s bathtub overflows and damages your belongings)
• Tearing apart/cracking/burning/bulging of a boiler, A/C, heating system, etc.
• Freezing of plumbing/heating/A/C, etc.
• Power surges caused by lightning
• Volcanic eruption

Policyholders also are covered in the event that they accidentally injure someone or damage their property, such as forgetting to turn off the water and causing a small flood that damages a neighbor’s belongings.

In addition, Jetty covers policyholders’ belongings if they’re damaged somewhere other than in their property, such as while traveling.

What’s Not Covered?

Renters insurance covers loss or damage in a wide variety of situations, but the list isn’t exhaustive.

Some types and categories of loss aren’t covered by Jetty insurance, including:

• Loss or damage to personal electronics. These devices are protected up to a certain point, but most plans do not cover the full value of many more expensive items.
• Floods. If you live in an area prone to flooding, consider purchasing separate flood insurance to protect your belongings.
• Earthquakes.
• Dangerous dogs. Injury or damage from many breeds is covered under renters insurance, but certain dog breeds are considered by the insurance industry to be “dangerous” and not covered in most policies.
• Intentional acts. Purposely setting fire or destroying your laptop, for example, aren’t covered.

Extra Coverage

Jetty offers a variety of extra coverage options for those who wish to protect more expensive belongings or who need additional support.

• Power-Ups: Jetty calls their additional coverage plans “Power-Ups,” and they’re added to policies over and above basic coverage. If you have personal electronics or other belongings that are valued above $1,000 individually, it’s recommended you add Power-Ups to cover these items in the event they’re damaged or destroyed.
• Jetty Deposit: Moving into a new apartment can mean a hefty security deposit, especially if rent is high in your area. Jetty offers Jetty Deposit, which means you pay 17.5% of the total deposit amount to Jetty and they take care of the rest with your landlord.
• Jetty Lease Guaranty: If you have bad credit or otherwise need a co-signer on your lease, Jetty offers Jetty Lease Guaranty. You pay an extra 5 to 10% per year in insurance premiums and Jetty protects your lease.
• Jetty Airbnb Host Theft Protection: Making some extra cash as an Airbnb host? Jetty’s Airbnb Host Theft Protection covers your belongings if they’re damaged or stolen while your apartment is being used by Airbnb guests.

Jetty Renters Insurance Features

• Founded in 2017 by Michael Rudoy and Luke Cohler
• Headquartered in New York City
• Offers basic renters insurance coverage, as well as additional coverage for electronics and valuables, protection for Airbnb hosting, and help with deposits and co-signing on leases
• Get coverage for personal property totaling less than $10,000
• Instant quotes
• No insurance brokers
• Quick online application
• Rapidly expanding to be available in all 50 states
• Belongings are covered in the event of loss or damage even when traveling
• Quick payout of claims
• Competitive rates

Pros and Cons of Jetty Renters Insurance

Jetty is an insurance company unlike any other in the industry today. Before you make a full decision, here are some of the pros and cons of choosing Jetty for renters insurance:

Pros

• Competitive rates
• Offers a variety of additional coverage, including for more expensive personal property, bedbug damage, and loss if you are a home sharing host
• Instant quotes
• No insurance brokers
• Fast online application
• Get help with your security deposit or co-signing on your lease
• Covers damage or loss to belongings that occurs even when you aren’t at home
• Available in 45 states
• Claims are paid on replacement cost, not actual cash value, meaning you’re more likely to get more money when you make a claim

Cons

• No discounts
• No agent meaning decreased customer service experience
• Claims are handled by a third-party processor
• Not available nationwide or in other countries
• Only been in business since 2017

Discounts on Jetty Renters Insurance

Jetty does not offer discounts on renters insurance. However, you can choose to insure property amounts under $10,000, something many insurance companies don’t offer.

Jetty Renters Insurance Customer Reviews

Despite being relatively new to the insurance world, Jetty has some great reviews from happy customers. It’s rated 4.1 on Clearsurance.com with a total of 19 reviews.

These reviews are representative of the positive reviews on Clearsurance.com.

“This was insanely easy to register for, gives you clear options you can understand and offers some unique extra coverages that you can tailor to your needs easily. And it’s a great deal!” - Pupped

“ I got Jetty because a friend of mine had it and was raving about how much of a lifesaver it had been. I'd looked into renter's insurance other places and honestly just didn't really understand the whole thing and it seemed like a hassle so gave up. Then my friend mentioned Jetty, and they made it super easy and clear to understand the the whole process and get everything I needed. A few months later, I broke my phone while on vacation. Before Jetty, I didn't even know I could get coverage for something like that, but Jetty came to the rescue. I filed a claim and the whole thing was resolved within just a few days. I've had insurance claims take a full year to process in other places but Jetty's claims process was easier than AMEX. Definitely check these guys out. Even if you don't think you need it, Jetty covers more than you think and has saved me tons!” - petesmuller

How to Apply for Jetty Renters Insurance

The process to apply for Jetty is easy from your smartphone or laptop. Get a decision in minutes and get covered right away.

On the Web

1. Go to www.jetty.com.
2. Enter your street address and email address.
3. You will receive a set of quotes based on different coverage tiers. Pick the base plan that looks best to you.
4. Click “Choose and Edit Coverage.”
5. Customize your plan, including start date and deductible (Jetty’s deductibles start at $100).
6. Add any additional Power-Ups you want to include, such as additional coverage for electronics or valuables.
7. Click “Pay Now.” You will enter your payment method - Jetty accepts all major credit cards - and your card will be charged the day after your plan start date.

How to File an Insurance Claim with Jetty

Filing a claim with Jetty is fast and easy, but it can only be done over the phone.

1. Call (844) 252-4640, 24 hours a day, 7 days a week.
2. Provide documentation to support your claim, including your plan or policy document; receipts for any lost, damaged, or stolen property; and pictures or videos documenting the scene of the damage or loss.

Jetty’s claims are processed by a third-party vendor, so reach out to your adjuster or email [email protected] to check the status of your claim.

How to Contact Jetty

Address: Headquarters 37 W. 20th St., #301 New York, NY 10011 Customer service: (855) MY-JETTY Claims: (844) 252-4640. Website: www.jetty.com Facebook: https://www.facebook.com/jettyinsurance/ Twitter: @jetty Instagram: https://www.instagram.com/jetty/ LinkedIn: https://www.linkedin.com/company/jetty./

Does Jetty Offer Other Kinds of Insurance?

Jetty offers renters insurance, as well as Jetty Deposit and Jetty Lease Guaranty.

Summary

Jetty is revolutionizing the renters insurance industry with its plans designed for young urban renters with a variety of unique needs.

Base coverage is affordable and can be purchased for values under $10,000, and the Power-Ups allow policyholders to truly customize their coverage. Payment of claims at replacement cost means you can expect to receive more if your property is damaged or stolen, making it easier to replace your belongings.

The online application process is quick and painless, allowing you to get covered immediately after applying. This gives you peace of mind knowing you can move into that new place and have coverage for any damage that might happen.

Jetty is a great basic renters insurance company that offers individualized solutions for those who want more coverage and can afford to pay more in monthly premiums.