InsureGaps
Executive Summary
Vision Statement
Empower every homeowner to make informed decisions and fully protect what matters most—by making insurance coverage gaps visible and actionable.
Problem Summary
Many homeowners overestimate the coverage provided by their standard insurance policies for high-value items like jewelry. Most policies cap payouts for jewelry theft at $1,000–$1,500, often below the deductible, making claims on such items financially pointless. As seen in the Reddit thread, even engaged and proactive homeowners are often shocked by these limits, discovering only after a potential loss or prompted by peers. This misunderstanding leaves significant financial exposure for those with valuable personal property.[1][2][3]
Proposed Solution
A web and mobile platform that allows users to upload or connect their homeowners insurance policy, automatically analyzes coverage details, and flags gaps—particularly for high-value items like jewelry, art, or collectibles. The app then provides personalized recommendations for supplemental coverage, such as scheduled property endorsements or standalone jewelry insurance, and can facilitate quotes or direct connections to vetted providers.
Market Analysis
Target Audience
The ideal user is a homeowner or renter with valuable personal property—such as engagement rings, watches, art, or collectibles—who assumes their existing insurance covers all risks. This audience includes newly engaged couples, affluent individuals, and families upgrading homes or assets. They are digitally savvy, risk-conscious, and value financial security but lack deep insurance expertise.
Niche Validation
The Reddit post provides strong validation: the original poster and many commenters were surprised by the low jewelry coverage limits and high deductibles, despite being insured. The thread's high engagement (325 upvotes, 277 comments) and multiple anecdotes of similar experiences indicate widespread confusion and a real pain point. This is further corroborated by industry sources, which confirm that most homeowners policies cap jewelry theft coverage at $1,000–$1,500 and require extra steps for adequate protection.[1][2][3][4]
Google Trends Keywords
Market Size Estimation
The Serviceable Available Market focuses on households with $5,000+ in unscheduled valuables, estimated at 20% of U.S. households (~28 million), and those actively seeking to review or supplement their coverage.
The Serviceable Obtainable Market for a new SaaS tool could conservatively target 1% of the SAM in year one (~280,000 users), focusing on digitally engaged homeowners in urban/suburban regions.
The Total Addressable Market includes all U.S. homeowners and renters—over 140 million households—with at least $1,000 in high-value personal property. The U.S. homeowners insurance market exceeds $100B in annual premiums. Jewelry insurance alone is a multi-billion dollar segment.source
Competitive Landscape
Direct competitors include dedicated jewelry insurers like Jewelers Mutual and Lavalier, as well as insurance aggregators (e.g., Policygenius, Lemonade) that offer comparison and some educational content. However, no major player offers automated, policy-specific coverage gap analysis and actionable, personalized recommendations as a standalone SaaS or app. Most solutions require manual research or agent interaction.[1][2]
Product Requirements
User Stories
As a homeowner, I want to upload or connect my insurance policy so I can see what high-value items are covered.
As a user, I want to receive alerts about coverage gaps for jewelry, art, or collectibles so I can make informed decisions.
As a user, I want to get personalized recommendations for supplemental insurance or riders for my valuables.
As a user, I want to easily request quotes or connect with vetted insurance providers from within the app.
MVP Feature Set
Secure policy upload or connection (PDF, login integration)
Automated policy parsing and coverage gap analysis
Clear visualization of sublimits and deductibles for valuables
Personalized insurance recommendations (endorsements, standalone policies)
Optional quote request or referral to partner insurers
Non-Functional Requirements
Data privacy and encryption for sensitive documents
Mobile responsiveness and accessibility
Scalable cloud infrastructure
GDPR/CCPA compliance for user data
Key Performance Indicators
Number of policies analyzed per month
Percentage of users discovering a coverage gap
Conversion rate to supplemental insurance referrals
User NPS and satisfaction ratings
Churn rate of premium subscribers
Data Visualizations
Visual Analysis Summary
The vast majority of U.S. homeowners insurance policies cap jewelry coverage at $1,000–$1,500 per claim, leaving a significant coverage gap for valuable personal property. This chart visualizes the distribution of standard policy sublimits versus the value of typical engagement rings and other jewelry.
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Go-to-Market Strategy
Core Marketing Message
Think your homeowners insurance covers your valuables? Most policies don't—find the gaps before you lose out. InsureGaps reveals what your policy really covers and helps you fully protect your prized possessions.
Initial Launch Channels
- Targeted posts and AMAs in r/homeowners, r/personalfinance, and r/Insurance on Reddit
- Partner with wedding planning platforms and jewelers to reach newly engaged couples
- Launch on Product Hunt and relevant fintech/startup communities
Strategic Metrics
Problem Urgency
High
Solution Complexity
Medium
Defensibility Moat
First-mover advantage in automated coverage gap analysis, partnerships with insurers, and potential for proprietary policy parsing algorithms. As user data and recommendations improve, network effects and switching costs increase.
Source Post Metrics
Business Strategy
Monetization Strategy
Freemium model: Free basic analysis with upsells for premium features (detailed reports, ongoing monitoring, direct quote facilitation). Affiliate commissions or lead generation fees from insurance partners for successful policy referrals. Option for a subscription tier offering annual policy reviews and alerts.
Financial Projections
Assume 5,000 premium users in year one at $7/month = $35,000 MRR. Additional revenue from affiliate commissions (e.g., $50–$100 per converted insurance policy) could yield $10,000–$20,000/month with modest conversion rates.
Tech Stack
Node.js with Express for rapid development and robust REST APIs. Python (FastAPI) if advanced document parsing or AI features are prioritized.
PostgreSQL for structured user data and policy storage; optionally MongoDB for flexible document handling.
Next.js for SEO, performance, and a modern React-based user experience. React Native for mobile app parity.
Stripe for payments, Docparser or AWS Textract for policy document analysis, secure OAuth for insurance account connections, SendGrid for notifications.
Risk Assessment
Identified Risks
- Regulatory complexity and compliance requirements around handling insurance data and providing recommendations.
- User acquisition cost may be high if targeting niche audiences or requiring policy uploads.
Mitigation Strategy
- Partner with licensed insurance brokers and ensure legal review of all recommendation logic. Start with informational/educational positioning before expanding to direct sales. Focus on SEO and partnerships to reduce CAC.