Goodcover operates as a Managing General Agent (MGA) with a cooperative-like model designed to provide affordable and transparent renters insurance. Founded on the principle of fairness, the company takes a fixed fee from premiums to run its operations. The remaining funds are used to pay claims, and any surplus money left over at the end of the year is returned to policyholders through an annual Member Dividend. This structure aligns the company's interests with its members, aiming to eliminate the conflict of interest present in traditional insurance models where insurers profit more by denying claims.

Founded in

United States