Renters insurance from$–.––/moin
Goodcover serves California
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Goodcover Member Dividend 2020

Goodcover members span from San Diego to Sacramento, from the beach town of Santa Cruz to the San Bernardino valley. Together these members power Goodcover to help bring insurance back to its cooperative roots where members help members, even if they don’t know that they are. As we wrote in our launch announcement, we act for the mutual benefit of our members with a mission to provide affordable and effective insurance to everyone.

As members pay their premiums, that money is pooled to pay the memberships' claims. In years where there’s leftover money we return it to members via an annual Member Dividend. Not only is it the fair thing to do, it ensures we’re not in the conflict business of betting against our members.

This year our dividend rate is 1.89%. How much an individual member receives back is calculated as such: all premium a member contributed since joining date till 8/31/2020 * 1.89% dividend. That amount will be automatically credited to members on their next billing cycle (for those on monthly plans it’ll be next month after the 15th, and those on annual upon renewal).

We’re also introducing an option for members to donate their credit to the Goodpool fund. We use this fund for good – such as offering free insurance to medical and other frontline workers fighting COVID-19. Members can select this option from their dashboard.

Insurance is for peace of mind, it’s knowing that when something goes wrong Goodcover is there for our members. Since our launch earlier this year we’ve had claims from the onset; some interesting highlights: Theft is the most frequent type of claim, and Bikes are the most frequent individual item named on a claim. With California accounting for 15% of all bike reported thefts in America, this is no surprise.  However, when we account for individual items by claims cost, it's actually Computers that come out on top.

Breakdown of Claim by $ and type

We’ve been honored so many have chosen Goodcover and we’re especially happy about those that joined us who’ve never been covered before and now have protection with some peace of mind.  

  • Average member age is 33
  • 75% of members don’t already have renters insurance before they join
  • First claimed happened here: near Tahoe
  • First member invite happened in: Manhattan Beach
  • First policy sold in: San Francisco
  • No members here (yet): Imperial County
  • Members impacted by wildfire evacuation: Vacaville

Thank you to our members from all of us at Goodcover for your confidence and trust in what has been a rough year for everyone. Your contributions are what enable us to protect you and your fellow members.

We’re looking forward to the year ahead!

Chris Lotz
CEO and co-founder

Goodcover is a modern, fair, cooperative renters insurance starting at $5/mo.

Our mission is to build a community of Members enjoying financial peace of mind at the lowest possible cost. Get your instant quote and become a Member today; if you’re switching we’ll do the work for you and you’ll get a refund of anything you’ve prepaid.

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© 2022 Goodcover Insurance Solutions, LLC. Licensed in CA #0M20813

Goodcover Insurance Solutions, LLC (Goodcover) is an insurance agency licensed to sell property-casualty insurance products. Goodcover will receive compensation from insurance carrier partners for such sales. Refer to the Legal Notices section for additional information.

Issuance of coverage is subject to underwriting review and approval. Coverage may not be available in all states. Please see a copy of the policy for the full terms, conditions and exclusions. Policy obligations are the sole responsibility of the insurance carrier listed in your Policy Declarations. Coverage scenarios are hypothetical and shown for illustrative purposes only. Coverage is dependent on the actual facts and circumstances giving rise to a claim.