Insurance that indemnifies landlord for nonpayment of rent

[Lawrence Henkel III]

Has anyone had any experience using a company like Leaselock. It is basically an insurance policy your tenant purchases that guarantees the rent. It sounds almost like they took the concept of PMI and made a version for tenants. If they don’t pay they still get evicted but you can file a claim and get rent payments until you rent your unit again. It also has a damage component to replace the security deposit.