$1,000 Grand Prize: Mitigating Risks to Vulnerable Populations

Eviction Insurance

An Eviction Insurance Policy would provide attorney services to fight eviction and if that's not possible, transition assistance for those forced to unexpectedly move. This sort of unexpected move is often forced upon low income communities as part of gentrification, and can result in whole community displacement and homelessness.

This would be triggered by a request from the landlord or master tenant for the resident to move out.

The insurance would provide the attorney's services and a location based payout to cover a deposit on a new rental in the same area as the first, and any moving expenses.

This product could significantly help reduce homelessness by preventing people from losing their homes in the first place. As our housing crisis grows the needs for such a service will significantly grow. Helping to prevent homelessness in the first place is much easier than helping someone out of homelessness.

This product could be sold as an add-on to renters insurance or as a separate service, and could also be offered to employers, community organizations, churches and neighborhood committees as a group benefit helping keep members in the community. It could offer a degree for policies for different locations and covering Rent Controlled or No Fault evictions or other similar scenarios.

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Idea No. 2171