In the last few days, digital bank Monzo has launched its first insurance based product. Monzo launched its contents insurance service on 1st April, which naturally raised some questions whether or not it was serious. However, Monzo has since launches its content insurance offering in the UK.

Monzo has partnered up with the insurer underwriter, Chubb who will be responsible for managing, approving and paying out approved claims.

Like all of the Monzo sign up processes, this is also super simple. Monzo will ask just five questions about what type of home you live in, how many people live there and others. The app will then give you a quote baed on averages, but you can customise the value of the contents, excess, out of home cover and more and see in real time how this affects the price per month.

Monzo also says that everything surrounding the insurance happens in the app, such as cancelations, claims and editing the policy.

To be eligible for contents insurance, Monzo requires you have a current account with them, be 18+ and live in the UK.

Like other banks, Monzo could start offering other types of insurance going forward such as home, life, car, van, pet and more.

Source: Monzo Community & Monzo