Posted: Fri Aug 10, 2007 12:43 pm Post subject: Any good marketing material for renters insurance?
Hey there guys and gals,
I'm looking to see if any of you have some good marketing material for renters insurance policies, either in the form of charts, bulletins, or anything else like that you could e-mail me so I could print some out. I currently have a sheet of paper that I give out that contains information, but I'm not a whiz at making it "pretty" so I have to assume that there are better options out there for me to use.
My carriers provide me with literature, but as an independent agent I don't want to use one companies brochure if I'll end up selling another.
So, can any of you guys help me out with this one? Thanks in advance.
Posted: Mon Aug 13, 2007 9:20 am Post subject: link
Well, this one might be of some use investmentnews.com/apps/pbcs.dll/article?AID=/20070326/FREE/70326002
prizemoney99 _________________ Register Now to have your Insurance queries solved.
Posted: Mon Aug 13, 2007 10:42 am Post subject: register pls!
hi there.. you might as well register over here & get some tips!
check site => etip.ca _________________ Register Now to have your Insurance queries solved.
Posted: Wed Aug 15, 2007 5:13 am Post subject: I wonder!
I feel prizemoney99 was probably directing us towards the quote modules presented through the 'Tools & Resources' section over here....what else can there be!
I assume that you want to have a niche in the renters market. People who carry renters insurance, just like homeowners, want to protect themselves. There are many people who rent; it is a great line of insurance to market to, because they would be potential multi line customers.
For the marketing part of it, take the knowledge that your companies provide to you and come up with a creative marketing piece to brand your independent name. I do not know the first place to start regarding marketing firms.
Just another thought. My questions as to why you are trying to aggresively market to renters was purposeful.
Frankly, there aren't many insurers out there who truly appreciate renter's insurance business. This product is often considered a loss leader, and rarely will carriers market to single-line HO-4 buyers. Additionally, if you are attempting to sell, for instance, to a rental hi-rise or rental complex, your typical underwriter would have an attack.
Let's say that you sell 40 renters policies to a hi-rise rental complex, and the entire building goes up in smoke. Let's say that you have placed a average coverage amount of $50,000. Your company is potentially on the hook for $2,000,000 in loss on the personal property section alone, and that doesn't include the additional living expense coverage that is also included in the contract.
Your potential loss exposure would be huge. I think this is something you need to discuss with your underwriter. I also do not agree with the multi-line strategy when it comes to renters. Statistics consistently show that renters are very transient, have low persistency numbers, and only occassionally translate into true married, multi-car, homeowner customers. Companies love the married/multi-car/HO-3 customers, not so much the single-line renter.
Lastly, how much money can you really make on a renter's policy? The normal carrier only pays between 10-15% as a commission, and commonly you will split part of that with your employer.
