SANTA MONICA, Calif.–(BUSINESS WIRE)–Fair, the first app that lets you get a car on your phone and turn it in any time, announced a strategic partnership today with Assurant, a leading provider of risk management services in the on-demand economy. Assurant is the primary underwriter for the Fair-branded property & casualty insurance offered for all vehicles available on the app.
“This partnership will allow us to provide Fair customers with top-tier insurance coverage and the additional ability to turn it off when they turn in their car,” said Scott Painter, Fair CEO and founder. “Along with our price guarantee and other powerful consumer features, the arrangement will help give our customers total peace of mind under Fair’s flexible new model.”
With Fair, a customer can sign for a pre-owned vehicle right in the app and drive it as long as they want—with no long-term commitment or physical paperwork. Through the agreement with Assurant, users have the option to enroll in an Assurant-backed property & casualty insurance program through the app that would protect users and their Fair vehicle for as long as they have the car. The plans offer industry-leading rates and can be instantly discontinued whenever a customer turns in a Fair car.
Customers can simply add the Assurant-backed Fair insurance at the end of the car-shopping process, and include it with their car’s all-in monthly payment, which already automatically includes maintenance, a limited warranty and roadside assistance. Fair is a licensed insurance agent and plans to expand participation in the program in partnership with Assurant.
“This is another way to bring our risk-management expertise to an innovative mobility venture,” said Kunal Malhotra, Assurant Vice President. “We help Fair provide a simple solution by streamlining the customer experience. If a user needs insurance, we have a unique product that works for them through the Fair app.”
Assurant’s partnership with Fair is the latest in a series of technology-based innovations in risk management from the company, which also safeguards millions of electronics users, renters, home-sharing clients and small-package shippers.