The agreement brings Assurant’s pay-with-rent Cover360 solution to RangeWater Real Estate, which operates a portfolio of over 93,000 units across 120 properties.
New York, October 31, 2022 - Assurant, Inc. (NYSE: AIZ), a leading global business services company that supports, protects and connects major consumer purchases, announced that the company has signed an agreement with Atlanta-based RangeWater Real Estate, a fast growing, fully integrated multifamily real estate company, to be their preferred provider of renters insurance. The multi-year agreement will grow the distribution of Assurant’s Cover360 product, which enables renters to conveniently pay for renters insurance with their rent, giving property management companies the potential to significantly increase participation in their renters’ insurance program and eliminate coverage gaps.
Cover360 is a comprehensive solution that evolved from Assurant’s Point of Lease (POL) product. It enables property management companies to offer renters insurance to residents by directing them via text or email to enroll via an online portal once they have signed a lease. There they can either purchase Assurant's Pay with Rent policy that is conveniently bundled with their rent - or upload coverage from a 3rd party provider.
“The size, strength, and stability of Assurant is very attractive, and when combined with their industry-leading expertise and solutions-oriented mindset, it creates a win-win for our communities and ownership groups,” said Sherry Freitas, Senior Managing Director, Property Management of RangeWater Real Estate. “Assurant’s Cover360 product with full-service tracking ensures our portfolio is protected and creates value for our residents.”
In an Assurant survey from late 2020, 86% of renters reported they would have greater peace of mind knowing their rental community neighbors were required to be insured, and 73% reported they are more likely to purchase renters insurance if it was conveniently included with their monthly rent payment – both factors Cover360 solves for. While Pay with Rent policies are automatically compliant, Cover360 includes full-service tracking so PMCs don't have to hassle with verifying coverage and tracking compliance.
“RangeWater is an innovative company in multifamily real estate providing exceptional and affordable experiences in the markets they operate,” said Ryan Lumsden, president of Multifamily Housing at Assurant. “Our partnership will help RangeWater continue to deliver simple, digital experiences to thousands of residents across the country, streamlining the insurance process from before move-in to after move-out.”
The agreement brings Assurant’s pay-with-rent Cover360 solution to RangeWater Real Estate, which operates a portfolio of over 93,000 units across 120 properties.
About Assurant
Assurant, Inc. (NYSE: AIZ) is a leading global business services company that supports, protects and connects major consumer purchases. A Fortune 500 company with a presence in 21 countries, Assurant supports the advancement of the connected world by partnering with the world’s leading brands to develop innovative solutions and to deliver an enhanced customer experience through mobile device solutions, extended service contracts, vehicle protection services, renters insurance, lender-placed insurance products and other specialty products. Learn more at assurant.com or on Twitter @AssurantNews.
About RangeWater Real Estate
RangeWater is a fully integrated multifamily real estate company creating fulfilling experiences for its partners, clients, residents and employees across the Sun Belt and Mountain West. The Atlanta-based company has acquired and developed more than 34,000 multifamily units since its inception in 2006 representing in excess of $6.5 billion in total capitalization. RangeWater currently manages a balanced portfolio of over 93,000 multifamily units across 11 states. With offices in Atlanta, Dallas, Denver, Tampa and Salt Lake City, RangeWater targets high job growth markets with demand for new housing. For more information, visit LiveRangeWater.com.
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Assurant Media Contact:
Andrew DeChellis
[email protected]
RangeWater Real Estate Media Contact:
Dana G. Pate
[email protected]