Why offer renters insurance?

Why offer renters insurance?

About one-third of all dwellings in the US are occupied by renters. If you do not offer coverage to this sizeable market, you are missing a profitable opportunity that also gives protection to your insurance clients. Many renters do not realize that their personal possessions may not be covered by their landlord's property insurance. People who do not own their own homes still typically own jewelry, expensive electronics and furniture that would cost thousands to replace. If uninsured, a fire, accident or other loss could leave them unable to replace valuable objects.

Additionally, clients who own rental properties should be urged to require that their tenants carry renters insurance. Without it, landlords run a risk of expensive liability cases. Being properly insured gives people peace of mind. Whether your clients rent the homes where they live or whether they own properties that they rent out to others, guiding them toward the right coverage for their situation can help them protect their interests.

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