With the holiday travel season upon us, many consumers will be headed for the car rental counter — and face the myriad insurance options auto rental companies offer.
Sure, a personal insurance distribution platform based in Los Angeles and New York, aims to simplify and cheapen that process with a new app-based rental car insurance product.
The startup’s car rental insurance can be purchased in less than a minute and costs less than $10 per day. Traditional insurance purchased through car rental companies can cost two, three, even four times that, depending on the policies selected.
Sure works with all car rental companies and covers anything from fender benders to serious physical damage, as well as additional drivers, flat tires and property theft while on the road.
The product is underwritten by Chubb (NYSE: CB), the world’s largest publicly traded property and casualty insurance company and largest commercial insurer in the U.S. More than 35 insurance carriers use Sure technology to power their daily operations at scale.
“Sure’s new rental car insurance product is launching just in time for the holiday travel season, which is high season for rental car usage,” said CEO Wayne Slavin in a statement. “Renting a car can often be stressful during busy travel seasons. Customers want to have a pleasant experience and not have to experience high-pressure sale tactics at the rental car counter. Our goal is to make buying rental car insurance as quick, easy and comprehensive as possible while delivering better and more complete coverage.”
Founded in 2014, Sure also offers insurance for baggage, collectibles, fine art, jewelry and watches, smartphones and renters. It is available in all 50 states and internationally on iPhone and Android devices and the web. The company has raised $10.6 million in financing.