# Goodcover

> Goodcover is a San Francisco insurtech offering cooperative renters insurance built around a member-first model. Founded in 2017 and launched out of Y Combinator, it operates as a Managing General Agent that pools members' premiums, takes a fixed fee, pays claims, and returns leftover premium to members as an Annual Member Dividend. The pitch: renters insurance for roughly half the price of legacy carriers, with a fully digital sign-up, human support, and a structure that aligns the company's incentives with its members rather than with retaining unclaimed premium as profit.

- **Founded:** 2017
- **Headquarters:** San Francisco, California, United States
- **Founders:** Christopher Lotz (Co-founder & CEO), Daniel Di Spaltro (Co-founder & CTO)
- **Team size:** Small team (roughly 2-25 employees reported across sources)
- **Products:** Goodcover Renters Insurance, Annual Member Dividend, Goodcover Auto
- **Notable:** Launched out of Y Combinator (S17 batch)., Raised a $7.5M Series A led by Goodwater Capital in 2020., Expanded from California to reach roughly half of all U.S. renters by February 2024.

## Products & services

- **Goodcover Renters Insurance** — Cooperative renters insurance for roughly half the price of legacy carriers, with fully digital sign-up, human support, and an Annual Member Dividend returning premium not needed to pay claims. Plans start around $5/month.
- **Annual Member Dividend** — Members' premiums are pooled; Goodcover earns a fixed fee (currently ~20% of premiums plus state-specific fees) and uses the remaining ~80% for claims. Surplus is returned to members, subject to board discretion.
- **Goodcover Auto** — Auto insurance offered to renters members, importing details from their renters profile to save time and enable potential multi-line discounts.

## Achievements

- Launched out of Y Combinator (S17 batch).
- Raised a $7.5M Series A led by Goodwater Capital in 2020.
- Expanded from California to reach roughly half of all U.S. renters by February 2024.
- Licensed in 41 U.S. states with policies underwritten by six A-rated carriers.
- Paid recurring Annual Member Dividends returning unused premium to members.

## Latest updates

- **2024-02** — Expanded to Georgia, Illinois, Ohio, New York, and Pennsylvania, reaching roughly half of all U.S. renters.
- **2024-01** — Published monthly news roundup covering product and market adaptation as the insurance market shifted.
- **2022-06** — Launched renters insurance in Texas, Arizona, and Nevada, reaching about one-third of U.S. renters.
- **2020-10** — Closed $7.5M Series A led by Goodwater Capital to accelerate affordable renters insurance.

## Links

- Website: https://goodcover.com
- LinkedIn: http://www.linkedin.com/company/goodcover
- Twitter/X: https://twitter.com/goodcover
- Facebook: https://facebook.com/GoodcoverCo/

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Profile page: https://yespress.io/goodcover
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Last updated: 2026-07-11