Over the past five years the percentage of renters in the U.S. has continued to grow, creating more opportunities for carriers and agents to sell renters insurance to these individuals.
According to an April 2013 report from the Census Bureau, the renter share of all households in the U.S. increased from 34.1% in 2009 to 35.4% in 2011. There were 10.7 million renters insurance policies issued in 2011, up by 53% from 7.0 million in 2006.
Given the opportunity for growth in this market, it is vital to understand the current trends shaping this part of the industry. Here's what agents and brokers need to know to be successful.
Want to continue reading?
Become a Free PropertyCasualty360 Digital Reader
Your access to unlimited PropertyCasualty360 content isn’t changing.
Once you are an ALM digital member, you’ll receive:
- Breaking insurance news and analysis, on-site and via our newsletters and custom alerts
- Weekly Insurance Speak podcast featuring exclusive interviews with industry leaders
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical converage of the employee benefits and financial advisory markets on our other ALM sites, BenefitsPRO and ThinkAdvisor
Already have an account? Sign In Now
© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
