What are Jetty Deposit and Jetty Lease Guaranty? Are they insurance?

After all, finding your dream apartment feels pretty swell, but dealing with security deposits and lease co-signers? Not so much. That's where Jetty Deposit and Jetty Lease Guaranty come in, as these offerings might be a great alternative to the traditional security deposit or lease guarantor.

We've posted individual articles within this section that go into greater detail on how each of these services works.

One critical point to keep in mind is that Jetty Deposit and Jetty Lease Guaranty are not traditional insurance products (well, they're insurance, but they actually protect the landlord). Rather, they're what's known as surety bonds, a special type of 'insurance-like' product that's a three-way contract (in this case, between us, you and your landlord), vs. the two parties to a true insurance contract. You can learn more about surety bonds at our Insurance 101 section, and Investopedia has a good (if somewhat technical) article on the subject, too.

The key takeaway is that you'll still be responsible for damages to your place or for making rent (i.e., this isn't 'insurance' for you to damage your apartment or skip town on the rent...sorry, Butch Cassidy). Nonetheless, having us in the middle acting like a 'referee' between you and your landlord means more trust, more security and lower costs for all.

Sometimes, the simpler it is, the more you have to explain it. We're happy to do so: just shoot us a note at help@jetty.com and we'll get you sorted.

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The content available on this page is provided for information purposes only. Jetty makes no representations or warranties as to the accuracy, completeness or timeliness of the information. The information is not intended to provide legal, tax or accounting advice. Each person should consult a qualified advisor for advice specific to their circumstances. Jetty assumes no liability for actions taken in reliance upon the information contained herein.

  
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