Insurance alternatives charge residents a monthly premium that never comes back to the resident and leaves landlords filing claims. Whale allows residents to keep their money in their own name and earn interest. Landlords receive move-out charges automatically—no questions asked.
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INSURANCE ALTERNATIVES
Product
Modern financial infra for deposits
Surety & policy-based products
Compliance
100% compliant in all states (money never leaves resident’s account)
Underwritten by non-admitted, surplus lines carriers in most states; not available in all states
Money movement
Remains in resident’s account and unlocked at financial move out
Resident pays ongoing non-refundable premiums for the entire lease. Money is non-refundable
Fees
None
$12–47+/month in non-refundable premiums priced by credit score and location
Liability
Zero liability for landlord
Landlords must submit a claim with documentation, and approval is not guaranteed. Coverage depends on the active policy and claim review process.
Security
FDIC-insured, Registered with the SEC, Bank level Encryption and audit trails
Carrier-backed; coverage limits, terms, and exclusions vary by policy and are subject to underwriting approval
Interest
Resident earns 7x national avg.in all states
No interest. Premiums are a permanent, non-refundable cost to the resident
Fraud Prevention
Extra protection through identity verification and background screening
No additional screening. Risk is priced algorithmically by credit score
Transparency
Governed by the SEC, all fees included on website
Pricing varies by individual based on proprietary risk algorithms; policy exclusions buried in fine print
Innovation
Reinventing security deposits by eliminating the regulatory and operational hurdles at their source
Replacing a cash deposit with a monthly bill. Residents still pay, just indefinitely
Whale rethinks security deposits as regulated financial infrastructure — not an insurance product offering zero coverage to the resident
Insurance alternatives simplify collection, not compliance. Most rely on non-admitted carriers — meaning if a claim is disputed or a carrier fails, there's no state guaranty fund to backstop it. As an SEC-registered RIA, Whale's compliance is regulated and comes with complete FDIC-insurance built in.
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With insurance alternatives, residents hand over a monthly premium that never comes back to them. With Whale, the deposit is theirs, held in their name, and returned to them after move-out.
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Insurance alternatives charge residents a monthly premium they'll never see again. Whale passes interest earned on deposits directly to residents, paying 7× the national average.
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When damage happens, insurance alternatives put the work on the landlord to document, file, and wait for reimbursement. With Whale there are no claims and no paperwork—just instant payments directly into your operating account.
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30-min minutes once. 0 hours forever.
Insurance alternatives create confusion for the renter and add work for the landlord. Whale offers a win-win solution for both sides.
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