Property and liability insurer Travelers has built a personal insurance product – dubbed Traverse – , to suit a generation of consumers that is willing to defer major asset purchases and whose needs are no longer being met by traditional insurance models . The policies , which are targeted at the New York market , are priced between $ 5 and $ 12 per month and can be purchased and sold entirely via a user ’s mobile device . An example comes from multiline P&C insurer Travelers, which is launching a new product, Traverse, in the New York market. The policies cover “ stuff ” , such as electronics and equipment , and “ experiences ” , such as cancelled flights or problems occurring in home - based , rental situations .
Property and liability insurer Travelers has built a personal insurance product – dubbed Traverse – , to suit a generation of consumers that is willing to defer major asset purchases and whose needs are no longer being met by traditional insurance models . The policies , which are targeted at the New York market , are priced between $ 5 and $ 12 per month and can be purchased and sold entirely via a user ’s mobile device . The policies cover “ stuff ” , such as electronics and equipment , and “ experiences ” , such as cancelled flights or problems occurring in home - based , rental situations .