E
ventual, a company dedicated to enhancing financial stability for real estate owners, has secured $7.5 million in funding and introduced Premium Lock, a product designed to provide long-term predictability for property insurance premiums.

    The US property insurance market has become increasingly volatile due to inflation and climate-related risks, leading to sharp premium increases that have caused difficulties for homeowners and investors. Historically, property insurance was stable and affordable, but recent years have seen significant hikes, forcing owners to either reduce coverage or constantly search for new insurance options at renewal.

    Eventual's solution is Premium Lock, a service that attaches to existing policies, guaranteeing fixed premiums for three years. The company uses an extensive database covering millions of properties to predict premium changes with high accuracy over the next five years. If actual premiums exceed predictions, Premium Lock covers the difference, allowing owners to avoid unexpected cost increases without switching providers.

    The $7.5 million funding came from two rounds led by AlleyCorp and Upfront, with participation from other venture firms and angel investors. Eventual plans to use this capital to further develop Premium Lock and expand its team of experts in software engineering, finance, and real estate.

    Premium Lock aims to bring unprecedented cost control to property insurance. Property owners interested in learning more can request a quote or schedule a demonstration to see how the product works.