Insurtech Steadily launches, aiming to take the pain out of landlord coverage

Fresh off a $3.8M seed funding round, Austin-based insurtech Steadily launched to help landlords insure their occupied properties.

Why should we care?
Steadily is trying to do what Lemonade has done to the consumer insurance market, by using technology to cut down on friction. Landlord insurance can cover property damage, lost rental income, and general liability. It’s a market dominated by incumbents such as State Farm, Liberty Mutual, Allstate, and others. Steadily lets property owners get quotes in minutes because the site pre-fills many data points. It’s also developing non-invasive IoT devices that keep watch over issues before they become problems, such as attaching sensors to the bottom of washing machines to monitor for leaks. Steadily, like others in the space, is likely banking on the growing need for tech-driven insurance solutions during the pandemic. “Landlord insurance has historically been too complicated of a product to underwrite entirely online the way auto insurance is today, so the segment is underserved,” said Jake Jolis, a partner at Matrix Partners and an investor in Steadily.