An online insurer that targets city dwellers and covers everything “from your cardigan to your Cartier” has launched in the US.

Jetty, founded by Michael Rudoy and Luke Cohler, has raised $US4 million ($5.33 million) in seed funding and has backing from Munich Re.

The founders say the insurance world has not “kept apace with the seismic shifts in how modern, urban consumers live their lives”.

“It’s a pretty common trope these days that property and casualty insurance… is trapped in a bygone era,” Mr Rudoy said. “But what really hit home for us was the way in which the industry has totally failed to meet the demands of a very specific and underserved audience – modern urban consumers, who have different expectations, requirements and needs as compared to other generations.

“Our vision is to create an insurance brand perfectly tailored to this demographic, spanning numerous product lines and challenging traditional divisions between insurance providers as regards their product portfolios.”

The insurtech also offers a security deposit replacement service for renters and a lease guarantee replacement service, through Jetty Passport.

“Combined with Jetty’s insurance plans, Jetty Passport dramatically improves the entire apartment-hunting process for both renters and landlords,” the company said.

Insurance is available in Pennsylvania, Illinois, New Jersey, Georgia and Florida, with plans to expand throughout the year.