APOLLO Exchange launches online renters’ insurance product

APOLLO Exchange launches online renters’ insurance product | Insurance Business Canada

APOLLO Exchange launches online renters’ insurance product

Apollo Insurance Solutions is launching its first personal lines product on the APOLLO Exchange platform.

The new APOLLO Renters’ Insurance product offers eligible purchasers protection from liability, with limits from $1 million to $2 million. Pricing for the product starts at $17 per month. Brokers who help sell the product will be paid 20% commission.

“This is a great product that brokers can offer to their clients online, which is especially important given COVID,” said APOLLO CEO Jeff McCann. “APOLLO’s rich functionality also allows brokers to follow up on quotes and ensure they’re offering the expertise, advice, and counsel their customers need to make an informed buying decision.”

Other coverage features of the product include:

  • Additional Living Expense up to $30,000
  • Jewelry up to $10,000 sublimit
  • Bicycles up to $3,000
  • Computers up to $10,000
  • Sewer backup coverage - Optional enhanced with extended water damage coverage, up to property limit. Named Risk package and All Risk package available.
  • Contents up to $100,000 (minimum $10,000)

McCann commented that this new product is “an exciting step forward for APOLLO,” since it marks the company’s expansion from small business to personal lines.

“Expect to see more products added to the Exchange that brokers are able to place in real time,” the CEO added.