Today, more and more millennials are renting their homes, but you might be surprised to find that the majority of them don’t have renters program insurance. If you sell insurance, this is an excellent opportunity. It may not seem like low-cost renters insurance offers you much in the way of benefits, but you’d be wrong. There are two big reasons why selling it is beneficial.
Every renter should have renters’ coverage. It just makes good financial sense. The insurance can cost less than $15 a month and give your customers peace of mind if they’re broken into or liable for someone being hurt on their property. That’s why it’s worth something to them. So why is it beneficial to you?
One important reason is that if you discuss renters insurance with clients without documenting it or giving them the option to buy, it can come back to bite you. They can sue you if they lose goods or must pay out in a lawsuit that would’ve been covered.
Another reason that selling renters program insurance is beneficial is that it increases the per household policy count, which can increase retention. When a client has more than one policy with your agency, they’re more likely to stay with you for life.
Be sure you purchase enough renters insurance in Florida to sell to your customers. You’ll reap the benefits when you convince your millennial clients to buy.