Steadily Insurance Review: A Comprehensive Guide
Steadily is an Arizona-based insurance company (NAIC 16963) specializing in landlord insurance. Their mission is to modernize the landlord insurance market by offering a straightforward, digital-first experience accessible directly to consumers through their mobile-friendly platform. Licensed in all 50 states and Washington, D.C. through its subsidiary, Steadily Insurance Agency, Inc. (NPN 19627533) [1], Steadily stands out for its innovative approach to property insurance.
Overview of Steadily Insurance
Founded by industry veterans committed to exceptional service, Steadily aims to provide landlords with a seamless insurance journey, from initial quote to claim resolution. Based in Austin, Texas [1], the company has quickly gained traction in the market.
Key Milestones in Steadily's History
- Launch: Steadily entered the market to address the unmet needs of landlords seeking modern insurance solutions.
- Seed Funding: Secured $3.8 million in seed funding from investors including Matrix Partners, Next Coast Ventures, Nine Four Ventures, and SV Angel [1], fueling product development and the integration of IoT technology into their offerings.
Regulatory Compliance and Licenses
Steadily operates under stringent regulatory oversight:
- Licensing: Steadily Insurance Agency, Inc. holds licenses in all 50 states and Washington, D.C. (NPN 19627533) [1], ensuring compliance with state-specific regulations.
- NAIC Code: Steadily Insurance Company's NAIC code is 16963 [1], providing a publicly accessible identifier for regulatory tracking.
Insurance Products and Services Offered by Steadily
Main Insurance Products
Steadily's core offering is landlord insurance, designed to protect rental property owners against various risks. Their focus remains squarely on providing comprehensive coverage tailored to the unique needs of landlords.
Coverage Options and Policy Details: Steadily's user-friendly online platform enables landlords to obtain insurance quotes within minutes. The platform intelligently pre-fills many data points, simplifying the application process and ensuring a quick turnaround time for competitive quotes [1].
Additional Services
Beyond core insurance, Steadily is pioneering the use of technology to improve property maintenance and reduce risk:
- IoT Integration: Steadily is developing and integrating non-invasive IoT devices to proactively monitor property conditions. These sensors, potentially attached to appliances like washing machines, can detect issues like leaks before they escalate into costly problems [1], leading to potential premium reductions and fewer claims.
- Claims Assistance: Steadily facilitates a streamlined claims process. For policies underwritten by Steadily, claims can be filed via their online contact form. For policies underwritten by other carriers, contact (888) 966-1611 [1].
Premiums and Pricing: Understanding Steadily's Cost Structure
Pricing Structure
Steadily emphasizes competitive pricing nationwide, with a clear commitment to transparency – notably, no hidden cancellation fees are applied [1]. The specific premium will depend on factors such as property location, size, age, and risk profile.
Comparative Analysis
While direct comparisons to industry averages aren't readily available on Steadily's website, their marketing materials consistently highlight their competitive pricing as a key selling point. Independent research and comparisons with other landlord insurance providers are recommended for a complete picture.
Discounts and Special Offers
Steadily doesn't currently advertise specific discounts. However, the potential for premium reductions through proactive maintenance facilitated by their IoT technology should be considered a significant, indirect benefit. Information on limited-time promotions is not readily available.
Customer Service and Support: Reaching Out to Steadily
Contact Methods
Steadily provides several avenues for customer support:
- Phone: (888) 966-1611
- Email: [email protected]
- Mail: 9450 SW Gemini Dr. PMB 18626, Beaverton, OR 97008; Attn: Legal Department [2]
While 24/7 support and multilingual options aren't explicitly stated, the various contact channels provide accessibility for inquiries.
Pros and Cons of Steadily Insurance: A Balanced Perspective
Pros
- Streamlined Digital Experience: Steadily's mobile-first approach simplifies the insurance process, making it efficient and user-friendly. Quick quotes and easy online application contribute to a superior user experience.
- Proactive Risk Management: The integration of IoT technology for preventative maintenance is a unique and valuable advantage, potentially leading to lower premiums and fewer claims over time.
- Competitive Pricing: Steadily positions itself as a competitively priced option in the landlord insurance market.
Cons
As a relatively new company, Steadily may have limited historical data to fully assess long-term performance in areas such as claims processing and customer service scalability. Independent reviews and comparisons with more established providers are recommended for a thorough evaluation.
Conclusion: Is Steadily Right for You?
Steadily presents a modern approach to landlord insurance, offering a user-friendly digital experience, competitive pricing, and innovative technology integration. Their focus on preventative maintenance via IoT devices is a noteworthy differentiator.
Landlords who value ease of use, technology integration, and competitive pricing will likely find Steadily to be a compelling option. However, potential customers should carefully weigh their specific needs and preferences against those of other established providers in the market.
Frequently Asked Questions about Steadily Insurance
This FAQ section addresses common questions about Steadily's policies, claims process, and more:
- What is Steadily’s coverage for tenant property?
Steadily's policies generally don't cover tenant's personal property. Landlords are advised to encourage tenants to obtain their own renter's insurance [3]. - How do I file a claim with Steadily?
The claims process depends on your policy's underwriter. For Steadily-underwritten policies, use their online contact form. For other carriers, call (888) 966-1611 [1]. - What types of theft are covered by Steadily’s insurance policies?
Steadily offers a broad theft coverage endorsement expanding the types of theft covered under their policies [5]. Review your specific policy details for complete coverage information.
Key Features of Steadily Insurance (Summary)
- Mobile-first platform for quick and easy quotes
- Competitive pricing with no hidden cancellation fees
- Integration of IoT devices for preventative maintenance
- Streamlined claims process
- Licensed in all 50 states and Washington, D.C.
References
- https://www.steadily.com/press/steadily-comes-out-of-stealth-with-3-8-million-to-unlock-the-38-billion-landlord-insurance-market
- https://www.steadily.com/privacy-policy
- https://www.steadily.com/faq
- https://www.steadily.com/landlord-hub
- https://www.steadily.com/glossary
