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Cover raises $8 million to insure your belongings

Cover raises $8 million to insure your belongings
From TechCrunch - July 13, 2017

Applying for homeowners insurance should be as easy as waving your phone camera around your room. Thats the premise behind Cover, an app that recommends insurance based on whats photographed in your home.

Whether its electronics, jewelry or even your pet, Cover will cover just about anything. Cover is licensed to sell insurance and they work with Progressive, Allstate, Nationwide and other major providers to tailor a plan for the customer, taking about a 10 to 15 percent commission for referring the business.

Now theyve raised an $8 million Series A led by Social Capital and are announcing a previously undisclosed $3 million seed round. Arjun Sethi from Social Capital will be joining Covers board.

Cover is reducing the amount of friction it takes for you to feel secure as a human being, said Sethi. Everyone needs insurance.

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