The team at Effective Coverage has been working hard to educate renters about the risks they face when they do not maintain Renters Insurance. As a result of our efforts and the efforts of thousands of other insurance professionals across the county, the percent of renters that have renters insurance has increased every year for the past 4 years to historic levels. But we are not done yet!
The 2015 Renters Insurance Challenge
Only forty-four percent of American renters have renters insurance. Effective Coverage, in collaboration with other industry leaders, is working to raise that number to fifty percent in 2015, and beyond. Find out why, how we’re raising awareness, and how you can help!
Our goal is to encourage fifty percent of the nation’s renters to be insured by the end of 2015!
According to the Insurance Information Institute (III) in 2011, 29% of renters had renters insurance. By 2014, that number had increased to forty-four percent, which means that 43 million of 104 million renters have renters insurance. It may sound high, but what it really means is that 65 million renters could lose all of their possessions in a fire, or other insured loss, and have absolutely no protection. Our mission is to educate the millions of uninsured renters nationwide and increase to fifty percent the percentage of renters who have renters insurance. This small increase will mean 3 million more people will have the protection they need by the end of 2015. That means that renters just like the ones that experienced an apartment fire in Texas along with their families will have the protection they need and deserve.
How Is Effective Coverage Rising To The Challenge?
Throughout the 2015 Renters Insurance Challenge, we will be launching several initiatives in line with our core values of integrity, education, ease of purchase, and affordability. Some of those initiatives include:
- Integrity: Our policies are sold with a promise. The promise is we will be there for you in your time of need. Effective Coverage partners with only the most reputable underwriters in the country to guarantee our promise is kept. These partners include Travelers, Stillwater, and American Strategic. All of whom have an A.M. Best rating of “A- Excellent” or better!
- Education: We already have a state renters insurance guide for every state in the country. We will add a customized video to each state guide and explain the intricacies of renters insurance in a format that is easily consumed by the modern renter.
- Education: Over 1 million students graduate college each year. Effective Coverage will partner with university housing and graduate assistant departments to ensure that our youngest renters know that they need coverage, and understand how to be responsible consumers of renters insurance.
- Education: There are 4.3 Million renters that live in either subsidized or other forms of public housing. These renters are often the least prepared to handle a catastrophe and most in need of the protection that renters insurance can afford.
- Education: We will add even more answers to commonly asked questions to both our Effective Coverage Learning Center and our YouTube Effective Coverage Channel.
- Ease of Purchase: Renters like to move fast, and so do we. We will work with our underwriters to ensure renters can quickly purchase a policy directly from our mobile responsive website. For those renters that might like the human touch, just call our call center. The call center will be operating under expanded hours 7 days a week in 2015.
- Affordability: Effective Coverage will work with our partner writing companies to ensure that we have competitively priced policies across the country for renters of every demographic.
How Can I Help?
Effective Coverage already works with thousands of leasing professionals across the country educating renters about the benefits of renters insurance. But we need to do more, so we are reaching out to any organization or individual with whom we could partner to help meet the challenge. We will provide customized educational material, hold private webinars, create customized educational videos, or even participate in onsite speaking engagements for any group of renters. If you are a:
- Public housing authority
- Owner of apartment buildings or leasing professional
- University or college housing department
- Insurance professional
- Other housing professional or organization
To be a part of our challenge please contact Effective Coverage at (800) 892-4308 Option 3 to speak with any of our renters insurance experts.
Effective Coverage invites you to view our educational posts and videos, learn from them, and then call or click to see how easy and affordable renters insurance can be!
Annual Social and Economic Supplement, U.S. Census Bureau. Updated 9/2014. Note: Does not include non-housing units.