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.
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