LeaseLock Insurance Services and Boost Insurance have partnered to launch a monthly subscription-based security deposit alternative for renters. The new service is called LeaseLockInsurance.com. Instead of a security deposit, renters will be charged $19 per month for coverage against $5,000 in rent or damage loss on each lease. The product will be available to US property owners and managers through Boost’s digital platform.
LeaseLock Insurance Services and Boost Insurance have partnered to launch a monthly subscription-based security deposit alternative for renters. LeaseLock Zero Deposit aims to address losses usually funded by traditional security deposits and surety bonds. Instead of a security deposit, renters will be charged $19 per month for coverage against $5,000 in rent or damage loss on each lease. The product will be available to US property owners and managers through Boost’s digital platform.