Beagle Insurance and Stern Risk both put a landlord-required liability program behind a rental portfolio, verify resident coverage, and turn that program into ancillary revenue. Here is how they differ on revenue transparency, product range, insurance structure, commercial terms, and setup.
Short answer
Beagle Insurance is a renters insurance compliance platform owned by its own licensed carrier. It publishes starting rates, models the revenue in a public calculator, and handles captive formation and management, including fronting the captive on its own paper. Stern Risk is an insurance brokerage and captive manager that places resident liability with outside carriers and quotes each portfolio privately. The deciding question is how much you need to know before you commit.
Comparison at a glance
Revenue transparency
Both companies sell ancillary revenue to property managers. The difference is when you get to see the number.
Stern Risk says it creates profit centers out of mandatory resident liability programs, security deposit alternatives, and deductible reimbursement policies. The financial arrangement is built per client and takes one of two shapes: a profit-sharing structure, or a client-owned captive insurance company. Neither the share percentage nor the cost of standing up a captive is published, so an operator cannot size the opportunity without entering a sales process.
Beagle Insurance puts its estimates in a public ROI calculator. Tenant Legal Liability is modeled at a 40% profit share on the premium with a $2 administrative fee built in, on top of whatever fee the property adds. Pet damage waivers model a 35% share on a $35 premium, and the security deposit alternative models a 25% underwriting share on deposits from $500 to $6,000. Those figures are illustrative and move with portfolio size, enrollment, and the programs selected. They are also visible before a sales call.
Product ecosystem
The two suites point in opposite directions.
Beagle Insurance has expanded across the resident side of the ledger. Its programs include Tenant Legal Liabilityat limits of $100,000, $200,000, and $300,000, optional contents protection for the resident’s belongings with additional living expenses included automatically, security deposit alternatives, pet damage waivers, and the customizable Renters Kit, all on one platform. The Renters Kit bundles move-in concierge, identity theft protection, credit reporting, and air filter delivery from $5 a month, and property managers set their own markup on top and keep 100% of it.
Stern Risk points toward the owner’s wider insurance program. Alongside resident liability it handles multifamily property and casualty, captive consulting and formation, and claims management. Its resident programs cover market rate, senior, student, single-family rental, and manufactured housing.
Insurance structure
The structures behind the two programs differ in where the risk finally sits.
Beagle Insurance is built by Corgi, a licensed insurance carrier. The compliance platform and the underwriting sit in the same group, so the software that enrolls a resident and the carrier that covers the loss answer to one company. Because the underwriting is in-house, partners can share in how the program performs rather than collecting a flat fee for enrolling residents.
Stern Risk is a specialty insurance brokerage and captive management firm. It places resident liability coverage with carriers and operates its own proprietary captive facility, which it says lets clients maximize ancillary income with minimal upfront cost. The carriers behind those placements are not named publicly.
The practical difference is the number of counterparties. With Beagle Insurance, the platform and the carrier are one organization, so there is no broker markup in the middle and a claim is settled by the same group that wrote the coverage. A Stern Risk program sits between a client, a captive, and outside carriers, and its claims team files with the carrier and follows up for adjuster assignment from outside it.
Captive formation, management, and fronting
Beagle Insurance also forms and manages captives. It owns its carrier and its claims administrator, so it can issue the fronting paper a program is written on and cede that risk into a client-owned captive through reinsurance, leaving no third party between the operator and the underwriting result.
Feasibility, structure and formation, the regulatory filings, underwriting, policy administration, accounting, reserving, governance, and claims all run through the same team, and none of it is subcontracted. A captive normally means engaging a fronting carrier, a captive manager, an actuary, a claims administrator, and a tax preparer separately, with all five coordinating on every filing.
Captive management suits large, diversified organizations: roughly $1M or more in annual premium across all lines, often 10,000 units or more, and multiple entities or operating businesses under one roof. Below that, the waiver programs are the better starting point.
Commercial terms
Beagle Insurance charges no upfront implementation or onboarding fees and requires no long-term contract. A property can launch without buying a separate software subscription. Tenant Legal Liability premiums start at $8 per unit per month at the $100,000 limit, paid by enrolled residents. Every published figure is a starting rate, with final pricing set at underwriting.
Stern Risk prices per client and per portfolio. No coverage limit, premium, deductible, onboarding charge, or contract length appears anywhere across its public pages, and it publishes no standardized program documentation an operator could evaluate on their own.
For anyone comparing providers, that is the difference between budgeting from published numbers and waiting for a quote.
Implementation
Stern Risk lists Rent Manager as an integration partner, and supports each client with a service team from launch through operation, with clients operating in 50 states. Beyond the Rent Manager listing, the systems it connects to are not published.
Beagle Insurance integrates with Rentvine, Yardi, and Rent Manager, and works alongside RealPage, AppFolio, and Entrata. Setup averages about five minutes. Once connected, policy verification, monitoring, resident outreach, enrollment, billing, and compliance run in the background, and ~93% of residents complete enrollment. The platform runs across 500,000+ doors in all 50 states.
Which is right for you?
Stern Risk is structured for the owner side of the table. It is a brokerage, and its resident liability program is designed to sit inside a wider insurance placement that covers the buildings, the entity, and the claims that come with them.
Beagle Insurance is shaped for the resident and commercial side both. One vendor covers the waiver, the deposit and pet programs, and the resident benefits package, which is the difference between managing one relationship and managing four. For a property manager whose problem is compliance and ancillary revenue rather than the owner’s insurance tower, that is the shorter route.
Weighing other providers as well? See how Beagle Insurance stacks up in our full comparison library, including Beagle vs. LeaseTrack and Beagle vs. Second Nature, or walk through the program with our team.
Frequently asked questions
How many parties sit behind the program, and how much you can find out in advance. Beagle Insurance belongs to the carrier that underwrites the waiver, Corgi, so the software and the insurance are one company, and the rates and revenue assumptions are published. Stern Risk brokers the coverage into outside carriers and a captive it manages, and sets terms privately with each client.
Comparison based on publicly available information as of August 2026. Stern Risk is a trademark of its respective owner; this comparison is for informational purposes and is not insurance advice.