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Too Many Renters Have No Insurance

According to a survey by Apartments.com, sixty-seven percent [67%] of respondents said they did not have any renter's insurance. The main reason given for...
August 31, 2010

According to a survey by Apartments.com, sixty-seven percent [67%] of respondents said they did not have any renter's insurance.  The main reason given for not purchasing an HO-4 was they believed they could not afford the coverage - even though the premium is likely to be less than their monthly cable bill or if they smoke, less than a couple weeks of cigarettes! The second-most used excuse was that they were unaware that such coverage was available.

The study further showed that renters are 50 percent more likely to experience a theft than homeowners, and apartment fires are a higher risk than in homes. P&C agents are reminded to search out this book of business by checking with local "welcome wagons" for new clients, becoming acquainted with apartment managers, apartment contractors and establish an advertising plan. The plan might be local "Renter Ads", business card holders in every apartment house, periodic door hangers in apartments and bulletin board postings of your agency and insurance offerings to renters. A good HO-4 client will get you more of their friends, their auto, their life and their other insurance needs. HO-4 is an inexpensive gateway to all other insurances.

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