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LAST UPDATED: January 7th, 2021

Roost partners with property managers and offers renters insurance to tenants on these partnered properties. If your home qualifies for Roost insurance, your policy will be managed through Millennial Specialty Insurance, LLC. Property managers interested in Roost will need to partner with AppFolio, which also offers helpful property management software.

Although Roost is new to the industry, its policies are competitive. If your landlord works with Roost, consider its renters insurance further.

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The Good

  • Quick, Competitive Coverage
  • Backed by Financially Strong Insurers
  • Partnerships with Property Managers
  • Convenience

Quick, Competitive Coverage

Roost allows you to apply for renters insurance online. Qualified applicants can purchase a policy online, too.

Roost's renters insurance policies are competitive. They include personal property, liability, and loss of use coverage. Personal property is covered at replacement cost instead of actual cash value, which means that you'll be able to replace your items with new ones instead of receiving a payout of the item's depreciated value.

Covered circumstances include theft and water damage. You can add earthquake coverage in California and pet coverage in any state. The ability to have water damage and earthquake coverage included in a policy is not common for the industry, so these coverages are an advantage of working with Roost.

Backed by Financially Strong Insurers

Roost is backed by financially strong insurers. Two of the insurance companies it works with, Spinnaker Insurance Company and Century-National Insurance Company, have earned high financial strength ratings from A.M. Best. 

The other insurance company Cypress Property and Casualty Insurance Company does not have ratings from A.M. Best, but has earned high ratings from a lesser-known rating agency.

Since most of the insurers Roost works with have high A.M. Best ratings, it's likely that the insurer will be able to meet your claims obligations.

Partnerships with Property Managers

Roost renters insurance coverage is available through partnerships with property managers. Property managers interested in offering Roost renters insurance to residents will need to work with AppFolio Insurance Services. Through this partnership, you can benefit from real time notifications of whether or not your tenants are covered.

AppFolio also offers assistance with other property management tasks, like maintenance, inspections, renewing leases, etc.

Convenience

Roost is convenient for policyholders to work with. Tenants can enroll in a policy online. Claims can also be filed online or over the phone.

If you need to cancel your policy, you can do that via email or a phone call.

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The Bad

  • Short Time in Business
  • Limited Availability
  • Insufficient Customer Reviews

Short Time in Business

Roost was founded in 2014, so it has much less industry experience than other companies. Although less industry experience may be concerning, Roost's renters insurance policies are backed by financially strong insurers.

Although some of these insurers have been in operation since the turn of the century, their financial strength can offer confidence in their ability to meet claims obligations.

Limited Availability

Roost renters insurance is only available at certain properties. If your property manager does not offer renters insurance through Roost, you'll need to consider coverage options from another insurance provider.

Insufficient Customer Reviews

There are not many Roost renters insurance reviews on Best Company. Conclusions about the customer experience — both property managers and policyholders — are not currently available.

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The Bottom Line

Without customer insight, it's difficult to make a full recommendation for Roost. Although Roost has limited industry experience, its partnerships through AppFolio are advantageous for landlords and property managers.

For renters, a Roost renters insurance policy offers competitive coverage and convenience when working with customer service. Roost also works with financially strong insurers, which makes their policies more reliable.

If you're a property manager looking for helpful software and an easy way to ensure your tenants have appropriate coverage, Roost is worth exploring further. If your property manager offers Roost, its coverage is competitive.

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