TheGuarantors Acquires the Technology to Mitigate the Multi-Billion-Dollar Renters Insurance Coverage Gap
Up to 40% of Renters Cancel Their Policies Mid-Lease, Exposing Properties to Uninsured Losses - TheGuarantors' Exclusive Technology Provides Real-Time Monitoring to Eliminate This Risk
NEW YORK CITY, NEW YORK / / March 20, 2025 / TheGuarantors, a leader in risk management for rental housing, has acquired the insurance verification technology developed by Y Combinator company Covie, powering its Zero-Gap Renters Insurance solution. Covie founder and CEO Trent Harvey has also joined the company as a strategic advisor. This development makes TheGuarantors the sole provider of real-time renters insurance monitoring.
Closing the Renters Insurance Compliance Gap
Traditional compliance systems check renters insurance only at move-in, failing to catch mid-lease cancellations. Up to 40% of renters cancel their policies mid-lease, leaving property owners exposed to uninsured losses. Zero-Gap Renters Insurance eliminates this risk by continuously monitoring coverage in real time, integrating directly with more than 90% of insurance providers.
"This deal cements our position as the industry's leading compliance solution and providers of unprecedented safeguards for our customers," said Aman Khaira, CPTO of TheGuarantors. "Property operators need absolute certainty - no gaps, no manual checks, no surprises. Our fully automated system ensures continuous compliance and eliminates crippling risk."
"TheGuarantors has long been the gold standard of innovation and impact in the industry," said Trent Harvey, founder and CEO of Covie. "There is no company better poised to build on this technology's potential. I am proud to join the team and look forward to what we will unlock together."
A Smarter, Cost-Effective Risk Management Solution
Zero-Gap Renters Insurance combines HO4 renters insurance, digital compliance monitoring, and a tenant liability waiver into a seamless, automated solution. Unlike traditional systems that leave landlords vulnerable when policies lapse, Zero-Gap provides uninterrupted coverage, proactively preventing uninsured losses.
With property insurance premiums rising 27% in 2024 (Yardi Matrix), multifamily owners are seeking more effective and economical ways to mitigate risk. Zero-Gap Renters Insurance drove 180% growth for TheGuarantors' renters insurance business in 2024, proving its value as a first line of defense against costly property or liability claims.
About TheGuarantors
TheGuarantors is a fintech company working to improve access for the 46 million American households that rent their homes. Through its platform and partnerships with multiple A-rated carriers, TheGuarantors offers renters and landlords a comprehensive suite of financial tools designed to benefit both sides. The company ranks on the lists of the Inc. 5000, Forbes' Best Startup Employers, and The Financial Times' Fastest-Growing Companies.
To learn more or schedule a demo, visit TheGuarantors.com/zero-gap-renters-insurance.
Contact Information
Amanda Knauer Chief Marketing Officeramanda.knauer@theguarantors.com
SOURCE: TheGuarantors
View the original press release on ACCESS Newswire
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