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National Renters Insurance

Is American National Insurance Company missing the boat? They don’t offer national renters insurance to their customers. They are missing out on this billion dollar industry, when they could easily offer national renters insurance to their customers, and make more money for the investors. One has to wonder why they have failed their customers and their investors in this way.

Over 35 million American families rent their homes, condos, and apartments. This group of people makes up about 1/3 of the national population, and presents a huge market for insurance companies around the nation. It is surprising that a large company like American National doesn’t offer renters coverage, when their competitors happily offer renters across the nation this type of coverage at affordable rates.

Renters insurance covers renter’s personal property in the event that disaster strikes. It often typically pays for hotel rooms if a renter’s rented property is destroyed to the point that it becomes uninhabitable. These policies also protect renters in the event of damages to the rental property that the renter may be liable for – no matter what caused the damage. Renter’s insurance typically costs about $200 per year on a national average.

Amazingly enough, American National isn’t the only one who is missing out. The majority of renters don’t carry renters insurance – no matter how affordable it is. Statistics show that most of those who do not carry the insurance don’t even realize that such coverage is available, and the rest either don’t think they can afford it, or don’t believe that they would ever need such coverage!

Bigger insurance companies that do offer such coverage are trying to educate the public on the benefits of having renters insurance. Many landlords now require their tenants to show proof of renters insurance within a specified period of time. The next time you watch the evening news, and they report a local fire, pay attention to the residents of the home that is burning. Do you wonder what they will do? In many cases, they are wondering the same thing – because they don’t have coverage. Now think about how easily it could be you on the evening news, with your rented home burning!

One thing is certain; American National is missing out on a big piece of the American pie by failing to offer renters protection that they desperately need in the form of national renters insurance. It’s time for the ‘powers that be’ at American National to sit up and take notice!