56% of Renters Do Not Have Insurance

According to a national survey conducted by Harris Interactive, 56% of young adult renters do not have renters insurance.

The same survey found that 75% of those without insurance did not realize that they could buy renters insurance for about the same amount each month as one cup of Starbucks a week, or two movie tickets a month.

The online survey of over 1,000 23-35 year old renters, commissioned by Nationwide Insurance, also found that:

• The two biggest fears among renters are fire and theft.
• Forty percent didn’t know that renters insurance can cover stolen property.
• Seventy percent have rented for three years or more and 46 percent have rented for five years or longer.

A Good Agent is Critical

The results of this survey show yet again why a good insurance agent is such an important part of making sure clients are covered properly.

Your clients need you to inform them of the coverages available and appropriate for their situation. As an industry professional you can bring information and a perspective that they simply do not have.

So help your clients who are renting – talk to them today about an iMGA Renters policy and help them avoid being part of the 56% without insurance. They’ll thank you, and they’ll sleep better at night knowing they have the coverage they need at a reasonable price.

If you’re a Texas independent agent looking to offer a Renters product to your clients, contact us today.