Oakwood Worldwide Selects Jacob Street Partners for Innovative Temporary Housing Insurance Solution

WILTON, Conn. - June 5, 2014 - PRLog -- Oakwood Worldwide, the global leader in corporate housing an serviced apartments, announces Personal Property Protection, a new insurance service uniquely tailored to meet the needs of extended stay business travelers by protecting their personal belongings and reducing their financial responsibility for accidental damage to their accommodations.

Personal Property Protection is being made available by Oakwood Worldwide through an innovative strategic partnership with Jacob Street Partners (http://www.jacobstreet.com/) and Clements Worldwide, the two leading providers of mobile workforce insurance. Oakwood Worldwide is the first provider in the industry to make this insurance service available on a global, corporate-wide basis.

Business travelers staying in corporate and serviced apartments typically bring with them high value electronics such as laptops and tablets. Additionally, they often take a number of personal items, like jewelry that traditional homeowners or renter's insurance policies may not fully cover if lost or damaged while traveling. To protect their belongings, these travelers often must contend with the hassle and costs associated with adding supplemental coverage to their existing homeowner's or renter's policy and higher premiums should they file a claim.

"For the most part, our clients are Fortune 500 companies sending their employees on extended assignments around the globe and these employees are carrying more high-end items than ever before," said Christine Moore, Oakwood Worldwide vice president of global marketing and communications. "In response to this trend, our optional insurance service provides coverage for employees' personal belongings while they are staying with us. Personal Property Protection supports our company's mission to continually evolve and drive innovation within our industry, allowing our guests to more quickly assimilate into their new surroundings and focus on the requirements of their business."

Eligible customers with employees staying at ExecuStay® or Oakwood® locations around the world will benefit from affordable rates, specialized coverage and ease of use. The service offers coverage of up to $50,000 in personal property protection with a $150 deductible. For accidental damage to their accommodations, coverage is provided up to $15,000. Personal Property Protection is easy to obtain with no application process and minimal information required from eligible travelers. The policy is flexible to align with the traveler's length of stay and claims can be processed in as few as 10 business days.

"The majority of travelers staying in extended stay housing find that their existing homeowner's and renter's insurance policies either do not provide coverage for their personal property or the coverage is very limited," said Elizabeth Soley, managing partner with Jacob Street Partners. "Our new coverage helps travelers avoid the high deductible and increase in premiums that come with having to file a claim with a typical homeowner's or renter's policy. Additionally our partnership with Clements Worldwide allows us to provide this protection internationally to extended stay business travelers."

For more information or to make a reservation, visit JacobStreet.com or Oakwood.com.

About Jacob Street Partners

Jacob Street Partners LLC., based in Wilton CT, offers a wide spectrum of insurance to meet the needs of the mobile workforce.  Their offerings include: Property and Casualty, Life, Transit, Health and Temporary Housing insurance options in all 50 states and 180 countries worldwide.  They were founded to meet the insurance needs of the mobile workforce by providing access to high quality insurance coverage at reasonable rates and expert counseling from professionals who understand both insurance and relocation.

To learn more about Jacob Street Partners, please go to: www.jacobstreet.com.

About Oakwood Worldwide

Oakwood Worldwide®, based in Los Angeles, Calif., is the leading provider of corporate housing and serviced apartment solutions through its two well-known brands, Oakwood® and ExecuStay®.  Both brands provide move-in-ready furnished housing designed to meet the needs of business travelers on long- and short-term assignments. Oakwood® has access to the largest selection of housing options and a presence in all 50 United States and more than 70 countries. ExecuStay is the preferred corporate housing partner of Marriott® International and is the only corporate housing brand where guests can earn Marriott Rewards® points for stays at any ExecuStay location in the U.S.

For more information, please visit http://oakwood.com and http://ExecuStay.com.