InsuraGuest Increases Property Damage Ceiling To $25,000 For Vacation Rental Policy Holders

Rhea-AI Summary

InsuraGuest Technologies, Inc. (TSXV:ISGI)(OTCQB:ISGIF) has enhanced its vacation rental insurance by increasing Property Damage coverage to $25,000 per reservation, responding to customer demand for more protection. This change allows customers to choose from coverage levels of $1,000, $10,000, and $25,000. The insurance operates on a no-fault primary basis, activating coverage at check-in and deactivating it at check-out, ensuring comprehensive protection for both guests and properties.

Positive

• Increased Property Damage coverage to $25,000 enhances customer value.
• Customer choice of coverage levels responds to demand.
• Primary no-fault coverage positions InsuraGuest competitively in the market.

Negative

• Intense competition with significantly more resourceful competitors.
• Market acceptance of new products is unpredictable, impacting potential success.
• Financial resources may limit advertising budgets necessary for market penetration.

Leading InsurTech Platform Combines Ease-Of-Use and Peace-Of-Mind for Short-Term Vacation Rental Owners and Hotel Properties

VANCOUVER, BC / ACCESSWIRE / September 28, 2021 / InsuraGuest Technologies, Inc.® (TSXV:ISGI)(OTCQB:ISGIF) ("InsuraGuest" or the "Company"), through its wholly owned U.S. hospitality subsidiary InsuraGuest®, announces it has increased its vacation rental Property Damage coverage to $25,000 per reservation.

In addition to offering the only primary no fault medical coverage on the market today, InsuraGuest has raised its Property Damage coverage to $25,000 per reservation. Now InsuraGuest customers can select the level of coverage desired on their vacation rental insurance. These packaged Property Damage coverages include $1,000, $10,000, and now $25,000 per reservations.

Reed Wright, President of InsuraGuest Technologies, stated, "Our high-end vacation rental customers have requested the ability to secure more coverage and we answered the call. Now our customers can choose the Property Damage coverage that addresses their specific needs. At the same time, we are providing the vacation rental insurance sector with one of the largest Property Damage policies on the market today."

Vacation Rental Operators
The Vacation Rental property automatically attaches the InsuraGuest coverage to each reservation, which activates the coverage at check-in and de-activates it upon check-out, covering the property if a guest is injured or the property is damaged. The coverage is on a no-fault primary basis, which means InsuraGuest pays the claim first.

About InsuraGuest Technologies Inc.
Harnessing the Power of Technology to Reinvent Insurance

InsuraGuest Technologies (TSXV:ISGI) is an insurtech (insurance + technology) company that is disrupting the insurance landscape by utilizing its proprietary software platform to automatically attach its short-term rental insurance products to vacation rental reservations.

CA / LIC: 6001686

For more information, visit the company's website at: www.InsuraGuest.com

Information set forth in this news release contains forward-looking statements that are based on assumptions as of the date of this news release. These statements reflect management's current estimates, beliefs, intentions and expectations. There is no assurance that this new business product offering or other planned products will be successful. The insurance industry is intensely competitive, and the Company's competitors have significantly more resources than the Company. Acceptance by potential customers is difficult to predict, particularly in the case of new products and disruptive technologies. If the Company fails to achieve market acceptance, this will significantly impact its results and financial resources. Achieving market acceptance may require advertising budgets that exceed the Company's current resources and require the Company to seek additional debt or equity financing. There is no assurance that such financing will be available at reasonable prices or at all.

NEITHER TSX VENTURE EXCHANGE NOR ITS REGULATION SERVICES PROVIDER (AS THAT TERM IS DEFINED IN THE POLICIES OF THE TSX VENTURE EXCHANGE) ACCEPTS RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE.

Company Contact:
InsuraGuest Technologies, Inc.
Media Relations
Adam Handelsman
media@InsuraGuest.com
+1 646 413 9401

SOURCE: InsuraGuest Technologies Inc.

View source version on accesswire.com:
https://www.accesswire.com/665375/InsuraGuest-Increases-Property-Damage-Ceiling-To-25000-For-Vacation-Rental-Policy-Holders

FAQ

What is InsuraGuest's new Property Damage coverage amount?

InsuraGuest has increased its Property Damage coverage to $25,000 per reservation.

What options are available for Property Damage coverage at InsuraGuest?

Customers can choose from coverage levels of $1,000, $10,000, and $25,000.

How does the no-fault primary coverage work for vacation rentals?

The coverage activates at check-in and deactivates at check-out, ensuring that InsuraGuest pays claims first.

What challenges does InsuraGuest face in the insurance market?

InsuraGuest faces intense competition and unpredictable market acceptance for its new products.

What is the significance of the enhanced coverage for InsuraGuest?

The enhanced coverage meets customer demand and strengthens InsuraGuest's market position.