Jetty vs. Traditional Renters Insurance vs. Profit-Sharing Programs: Breaking Down the Economics

Jetty built its multifamily business around two resident pain points: cash security deposits and renters insurance compliance. In February 2025, Jetty and Rhino announced a merger to form what they called the largest security deposit insurance company in the market. This post compares Jetty, traditional renters insurance and profit-sharing programs on the economics that matter to owners.

What Jetty offers

Jetty Deposit

Jetty Deposit replaces a cash deposit with a one-time or monthly premium backed by a surety bond. Jetty says pricing for $1,000 of protection starts at $7 a month and varies by the protection required and the applicant’s credit.

Jetty Protect

Jetty Protect is renters insurance covering belongings, liability and loss of use, starting at $5 a month according to Jetty.

Who benefits

In a typical third-party model like this, the provider and its carriers hold the underwriting results, and operators may earn a revenue share or fees in some configurations. That describes the category in general; your agreement sets the actual terms.

Traditional renters insurance: the baseline

Residents can buy renters insurance on their own from any carrier and hand you a certificate. You carry no compliance work beyond tracking it, but enrollment tends to be lower without a default-in option, lapses are harder to see, and you get no economic benefit from your residents’ premium.

Profit-sharing programs: the economic alternative

A profit-sharing captive provides comparable coverage, with one difference: what isn’t spent on claims comes back to you.

• Resident experience: Jetty is known for a strong digital experience. Captive programs are lease-integrated and professional.

• Enrollment control: default-in is available in both.

• Monthly premium: commonly $15 to $25 per resident in both.

• Underwriting results: to the provider and carrier in a typical third-party program, back to you in a captive.

• Illustrative return at 300 units: roughly $3,000 to $5,000 in fees versus $30,000 to $45,000 in captive distributions.

Illustrative 10-year comparison at 300 units

Assume 255 enrolled residents at $20 a month, a 15% loss ratio and 5% annual growth. Ten years of fees in a typical third-party program might total about $30,000 to $50,000. Ten years of captive distributions might total about $350,000 to $430,000. That is a gap of roughly $300,000 to $380,000 on one property, from premium residents already pay. These are illustrative figures, not a quote.

Our programs have consistently averaged 75% to 93% resident enrollment over time.

When Jetty makes sense

Jetty fits operators who want one platform for deposit alternatives and renters insurance with a polished resident experience, especially below about 150 to 200 enrolled residents or where turnover is high. Above that, with stable leases and strong management, the captive case gets hard to ignore. See how security deposit alternatives and resident liability fit together.

How Insur3Tech fits

Insur3Tech’s captive has no minimum premium and no unit minimum; portfolios as small as 4 doors can join. There are no holdout periods. The entire program is reinsured, so you carry no downside risk. What isn’t spent on claims comes back to you. We insure 100,000+ doors.

Want to run the comparison on your own residents? Book a free discovery call. We’ll audit your portfolio for free and tell you how much you can expect to get back every year.