Slice Labs, the on-demand insurance startup backed by Munich Re and XL Innovate, has expanded to five new states after launching in Iowa last October.

The insurer expanded to Maryland, Colorado, Massachusetts, Texas and Washington, it announced Wednesday. Slice’s home-sharing insurance product targets Airbnb and HomeAway customers, allowing users to insure personal belongings for the entire time travelers rent their home.

Home-sharing has become more popular in urban areas, thanks to the emergence of companies like Airbnb and HomeAway
Home-sharing has become more popular in urban areas, thanks to the emergence of companies like Airbnb and HomeAway Bloomberg

“Working closely with our preview release users has helped us refine both the product and user experience,” said Tim Attia, CEO and co-founder of Slice, in a statement. “We are gathering more data each day, which will help us to gain an even better understanding of this new risk.”

In efforts to enhance the new product, Slice has on-boarded every customer to its beta release individually, and organized “homeshare host meetups” to solicit real-time feedback. The New York City-based startup currently offers 18 insurance coverages and commercial liability coverage limits of $2 million.

The company also plans to release a second insurance product centered on ridesharing in the near future, it announced last fall. But no further details have been released.

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