Germany’s Friday launches home contents insurance offering

Digital car Insurer Friday has expanded its offering to include home contents insurance.

The startup is focused on digital car insurance, but has now expanded its operations according to an official release.

Customers can access Friday’s products through its mobile-first platform, which includes features such as kilometre-accurate billing, monthly terminability and a paperless administration.

The products are based on the latest version of the Guidewire insurance core system and can be cancelled on a daily basis. The company can cover damage up to €10,000 with a deductible of 10 per cent of the damage or at least €300.

The new home insurance product also has the option to add additional services, including protection for bicycle theft and broken glass.

Friday has acquired more than 45,000 new customers for its car coverage since it was founded in 2017. The Swiss Baloise Group-backed company recently received €114m of investment from SevenVentures, German Media Pool and others.