With a mortgage industry that is struggling to recover despite low interest rates, many people have opted to rent instead of buy. Just as homeowners need a home insurance policy, those who rent will want to and are often required to purchase a renter’s policy.
I do not personally chase renters leads myself but there can be advantages to working them. The best options for renters leads in my opinion are going to be placing door hangers in apartments complexes, networking with apartment management or buying leads online.
With this in mind, many captive agents will buy renters leads online to fill end of month sales goals or KPIs set because the leads are real-time. Other agents like to focus on this line because it typically has less competition than other P&C lines and offers an opportunity to cross sell and get their foot in the door for an auto policy.
The most successful agents in this space have a marketing strategy that allows them to generate acquire renter’s insurance leads and earn additional business in the process with strong sales approach and engaging personality.