Trov App Provides One-Swipe Insurance For All Your Electronics

Australians can now instantly insure their valuables and electronics with just a few finger swipes on their smartphones. The Trov app allows you to turn insurance on (or off) for single items ranging from TVs and laptops to bicycles and musical instruments. Prices start at just a few bucks per month. Here’s how it works.

Trov is the first app in Australia to provide instant, on-demand insurance through a tablet or smartphone. Aimed squarely at the notoriously uninsured under-30s demographic, the app is being billed as “Tinder for insurance”.

The Trov insurance provider operates entirely through the app interface: there’s no need to speak to representatives over the phone or fill out dense insurance forms. Instead, users simply fill in details about the item they wish to insure and then swipe right to protect it. As Trov explains on its website:

“When a user wants to protect an individual item in their Trōv, they simply swipe right to initiate protection, swipe right again to claim and swipe left to turn protection off.”

Crucially, there are no long-term contracts — items can be instantly uninsured by swiping left. This is particularly handy for stuff that you only use occasionally such as skiing or snorkeling gear. It also ensures you don’t waste money on items you’ve sold or stopped using.

Once insured, items are protected against accidental damage, loss or theft anywhere in Australia and New Zealand. Claims are made by sending a series of texts to an automated chat bot, with payouts managed by Australian insurance provider Suncorp Group.

The app also doubles as a digital inventory of the products you own, complete with photos and digital receipts. The Trov app then uses this data to calculate the payable insurance on each item.

So how much does it cost? The app itself is free, with the premiums you pay depending on the value and number of items you’re insuring. There’s an option for either monthly or daily payment plans. The below video explains the process in a bit more detail:

Trov Protection is currently available for “common electronics” only, with plans to add more products in the future.

“When we think of valuables in the home, it’s often furniture and major appliances. We tend to forget about electronics and even smaller items that are worth a significant amount of cash,” Suncorp CEO Gary Dransfield explained in a statement.

Items supported at launch include phones, laptops, TVs and monitors, gaming products and headphones/speakers. Insurance options for home appliances, cameras, musical instruments and sporting equipment are also in the pipeline.

Provided that the claims procedure is on the level, this could be a cheap, hassle-free way to insure your electronics. Mind you, we imagine its reliance on chat bots could lead to higher instances of fraud. This is bound of affect the way claims are handled moving forward. For now though, it really does seem to be the simplest and most cost-effective option on the market.

The Trov insurance app is currently only available on iOS. An Android version is reportedly coming soon. Click here to download the iPhone version and here to register your interest in the Android version.

[Via Trov]

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