Pikl, Esure and Sheilas’ Wheels have partnered to sign a “major new industry-first” distribution deal for sharing insurance products, in a move that will see Esure and Sheilas’ Wheels sell Pikl’s branded host insurance top-up product.
Pikl provides specialist insurance cover for people who want to rent out assets, such as a room in their home, a whole property, or a car parking space.
The “vast majority” of standard home insurance policies will reportedly not cover these activities, which could make them liable to serious financial losses resulting from theft, fire, damage, or even public liability, according to the insurers.
Louise Birritteri, Pikl founder and CEO, said: “We’re delighted to be able to announce this prestigious partnership. It is a hugely exciting prospect to be working with such major players in the personal lines insurance market.
“For esure and Sheilas’ Wheels customers, it will offer extra security to people renting out rooms or properties, where standard home insurance policies do not cover this type of activity in the event of a claim and, in a worst case scenario, could invalidate their whole policy.”
She added: “There is a link on each brand’s website to take customers to dedicated pages on Pikl’s website that will provide them with a straightforward quote journey for insurance to cover them for renting out a room or their whole property for short periods.”
David McMillan, CEO of Esure, said: “esure has always had a reputation for disrupting standard industry practice in the name of a better customer experience. We are very pleased to have teamed up with insurtech Pikl to rewrite the way the insurance industry treats people operating in the sharing economy.
“This collaboration means our customers will be able to get fair-priced, good quality cover, if they declare an intent to rent out a room in their home or their whole property. This is a real game-changer for the industry and a great result for our customers.”