Pikl partners with Prestige Underwriting on short-term products

The agreement will provide managing general agent Prestige’s brokers access to the insurtech’s top-up insurance products via its Covernet portal.

Pikl explained that the products are geared towards those of Prestige’s broker partners that specialise in the short-term rental of rooms, whole properties or parking spaces.

Gap in the market

It detailed that its products had been developed to address a gap in the market, as most standard home insurance policies will not cover short-term rentals.

We are working with Pikl to provide our network of broker partners with access to its innovative product suite for customers who are active in the sharing economy.

Alison Williams

The deal with Prestige includes Pikl’s Property Host, Landlord-Tenant Host and parking insurance policies.

These have been designed to run alongside standard home insurance products, allowing customers to only pay for the cover they need for the time that a room, property or parking space is rented out.

Getting the message

Louise Birritteri, Pikl founder and CEO, said: “We believe it [the partnership] will enable Prestige Underwriting brokers to provide comprehensive cover for those of their clients that take part in short-term rentals in an easily accessible way, ensuring they are insured against claims that may arise from these activities, whether they own or rent the property.

“Not enough people are aware that if you rent out a room in your house, the whole property, or even a car parking space assigned to you, you could be liable to a claim that your standard household insurance policy will not cover.

“That message is starting to be heard and understood, as evidenced by this tie-up with Prestige Underwriting.”

Alison Williams, managing director at Prestige Underwriting, said: “We are working with Pikl to provide our network of broker partners with access to its innovative product suite for customers who are active in the sharing economy.

“At Prestige Underwriting, we are committed to continually evolving our product portfolio, and this new partnership complements our non-standard home offering, adding value for our brokers and their customers.”

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