Gary Beasley, CEO and co-founder of Roofstock
Technology has been an incredible catalyst to simplify the home purchasing and managing process, with services like ours helping investors buy and sell homes all from their computers. And while purchasing a home is considered a single transaction, even with advances in proptech, that transaction can still take place across several different platforms. It’s complicated and gets messy fast, leaving many investors overwhelmed or even tempted to walk away from an opportunity.
At Roofstock, our goal is to streamline every aspect of the property buying and managing experience and remove as many administrative barriers as possible. That applies to buying insurance, which typically is not a streamlined, straightforward process, due to complexities in determining the appropriate amount of coverage and inefficient workflows. Plus, for savvy investors who shop around for the best rates, it’s time-consuming. Today we launched an integration with Obie to simplify this entire process.
Get insured in minutes with Obie on Roofstock Investors using Roofstock
Investors using Roofstock can now buy landlord insurance for their investment property directly through Obie, a tech-enabled national landlord insurance provider. Just as we’ve worked to simplify the buying, selling, and management processes for investors, Obie has completely reinvented the insurance process for landlords and rental property investors, claiming to save their average user up to 25% on insurance.
We’ve made it easy so that in just a few minutes, you can get a quote and then buy landlord insurance without picking up the phone or leaving the platform. This innovative integration offers a streamlined, stress-free experience for investors who need insurance, or just want to see if they can save money by switching.
Why does simplifying insurance matter?
Insurance is a crucial component for buyers — as the cost of insuring a home continues to rise, landlords have been forced to make tough decisions about whether to cut back on coverage. Between 2017 to 2020, premium rates were up 11.4% on average. That is higher than the nation’s 7.5% inflation rate during those years.
Now it is possible for any user of Roofstock or its free rental property asset management tool, Stessa, to quickly obtain a bindable quote, saving time and effort in sourcing an appropriate level of coverage and potentially saving money in the process. Obie’s unique proprietary algorithm will help landlords get the coverage they need at a competitive price. An added benefit for landlords using Stessa is that they are then automatically provided with timely reminders if an insurance policy is expiring soon or if their coverage is inadequate.
Another piece of the investing puzzle
This integration is yet another step in Roofstock’s journey to make property investing radically simple and more accessible to everyday investors and we’re excited to enable investors to buy the right landlord insurance policy with confidence.