While 25 percent of consumers rent their primary residence, 46 percent of renters are uninsured, according to the “2013 U.S. Household Insurance and Bundling Study,” from J.D. Power. And agents who focus on homeowners customers are missing a large opportunity to build long-term relationships with renters, J.D. Power said, whose insurance needs only grow through life or circumstance changes, such as having a family, purchasing a home or additional car.
Satisfaction with insurers is higher among renters (809) than among homeowners (787), which is a good sign for insurers considering that renters, generally a younger customer base, place more importance on website (22 percent) and online assistance (11 percent) channels than homeowners do.
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