Marketing Strategy Behind HOmeowners/Renters Insurance

[Justice44]

Hello,

Everyone. I recently purchased renters insurance and I have been reluctant to purchase it earlier because the risk of an apartment being destroyed by an act of God is relatively lower than getting in a traffic accident. This was the major issue I struggled with in getting this type of insurance. What finally convinced me was the inexpensive cost of it for $25 per month and the logical conclusion that although apartment destruction by fire or other natural causes may be very small, the cost of replacing the items in my apartment would be enormous. Is the annual fee of $200 to protect 10,000 worth of physical assets worth the investment? Do you think it is worth it?

I wonder if many of you purchase renters and homeowners insurance based upon the financial devesatation of replacing your home and assets in your home due to a fire or other natural disaster or do you determine your need based upon the likely hood that it will occur? Enrolling in auto insurance programs make sense because of the stronger likely hood of a traffic accident occuring and the devestasting cost resulting from a traffic accident. Anyways, please tell me what you think.

I may use your input as a guidline to market renters or homeowners insurance if I decide to enter the insurance profession. Great marketers use marketing strategies that appeal to consumer motivations behind investing in products and services. I will await your response.