August 12, 2005
We sell renters
insurance
By Debbye Butler
Approximately 75 percent of America’s tenants don’t have renters coverage. Thomas-Fenner-Woods Agency, Inc., is out to change that for apartment dwellers in the Columbus, Ohio, area, using Safeco’s HO-4 policy. The fast-growing agency is Safeco’s leading writer of renters insurance in Ohio and among its top 100 in renters written premium nationally.“Safeco’s policy is good for the types of tenants we are writing – young professionals on their own, recently out from Mom and Dad’s wing,” says personal lines producer Andy MacKinnon. “Our thought is that eventually, renters buy homes, plus they need automobile insurance. We believe that by being the independent agency that writes their first home-type of policy, we will likely keep them long-term and cross-sell other coverages they need.”“Agents can’t telemarket like they used to be able to do because of the national ‘Do Not Call’ registry,” says Dave Fenner, agency owner and president. “But when we get permission to provide quotes, we promise to make the process easy. We can also quote clients’ automobile and other coverages for them, if they like.”Customers who have both their auto and renters insurance business with Safeco get a 10-percent account credit on their rental policies. Plus:
-
SPI’s HO-4 includes worldwide contents and liability coverage – for an average of $20 a month.
-
Property coverage is based on replacement-cost value, not depreciated values. Renters can also purchase personal umbrellas and endorsements to schedule valuable items like jewelry and collectibles.
-
Customers can pay the full amount all at once, or with payments by phone using a major credit card or through EFT (electronic funds transfer).
Fenner and MacKinnon say Safeco’s payment options are “huge selling points” and why Safeco is the agency’s strongest partner for this line of coverage. “Safeco has been a key player from the start of this project,” MacKinnon adds. “We value the relationship.”The agency has an overall 90-percent persistency with its accounts, a hallmark of customer satisfaction.
Reprinted with permission of Safeco® Insurance.
:. back to News