The insurance covers damage to personal property inside the insured residence. Photo by Patrick Perkins on Unsplash.

French insurance firm BNP Paribas Cardif has teamed up with home insurtech platform Lemonade to offer renters insurance.

The insurance policy, which is aimed at younger customers, provides conventional protections including personal liability insurance and covers damage to personal property inside the insured residence.

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Additionally, the insurance offers coverages tailored to the demands of the French market and locals such as the ability to adjust coverage limits and select additional coverage for high value belongings, among others.

The policy subscription and claims submission are 100% online and customers can access it via the companies’ websites and Lemonade’s app.

BNP Paribas Cardif deputy CEO for France and Luxembourg Fabrice Bagne said: “We are delighted to announce this collaboration with Lemonade, which is emblematic of our desire to continually innovate in forward-facing partnerships.

“We share a real commitment to combining the expertise of the two partners in order to facilitate access to insurance via digital channels while delivering top quality services for policyholders throughout the term of their insurance cover.”

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As co-insurers for this programme, BNP Paribas Cardif and Lemonade will both insure risks.

Lemonade co-CEO and co-founder Daniel Schreiber said: “As a well-developed insurance market with millions of digitally-savvy renters, France continues to be an exciting opportunity and focus for us since launching in 2020.

“A renowned brand like BNP Paribas Cardif combined with Lemonade’s instant and transparent approach to insurance brings the best of both worlds to French residents looking for a seamless way to protect their things.”