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Security First Insurance Announces New Renters Insurance Product

New product aimed at reducing the number of uninsured renters in Florida

September 27, 2011 - Ormond Beach, Fl

 

Florida-based homeowners insurance provider, Security First Insurance Company, announced today that it has received approval from the Florida Office of Insurance Regulation to begin offering renters insurance in Florida. The product is available through more than 1,300 insurance agents contracted with the company and located throughout the state.

Often renters are under the mistaken impression that their personal property is covered under their rental agreement or landlord’s policy. Consequently, these renters are left underinsured and at risk. Security First Insurance’s renters policy provides coverage for personal property, medical payments, liability and loss of use—the ability to receive additional living expenses if the structure is damaged and uninhabitable. The company is offering discounts to eligible policyholders: adults 55 and older, homes with burglar and fire alarms, roof shape, age of structure, secured communities, and structures reinforced to better withstand wind damage.

Complementing the new product, Security First also launched an online tutorial program to educate renters and reduce the growing number of Florida renters who remain uninsured. The interactive Web page serves as a portal to provide important information based on each renter’s unique situation. Guides and brochures have been distributed to the Security First agency network available for prospective rental clients.

“The amount of Florida’s renters without a renters insurance policy is alarming,” said Locke Burt, chairman and president of Security First Insurance Company. “We want to do more than just offer renters insurance—we want to make sure Florida residents know how affordable the product is and have a true understanding of the risks associated with not having a policy.”

According to the U.S. Census Bureau website, there are more than 2.1 million renter-occupied housing units in Florida. The Florida Office of Insurance Regulation’s Quarterly Supplemental Reporting System shows a mere 320,074 renters insurance policies in-force, statewide, as of March 31, 2011—leaving 85 percent of renters uninsured.

Security First Insurance’s average renters policy premium is $220 per year—less than $20 per month. Premiums will vary based on coverage. The company allows for a minimum amount of $15,000 for personal property coverage and a maximum of $100,000. Optional coverage is also available for a more customized policy and to insure high value items.

 
 

Media Contact

Marissa Buckley

Marissa Buckley

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Media Contact

Marissa Buckley

Marissa Buckley

Vice President of
Marketing

(386) 523 – 2302
Email Marissa

Social

 

Apps

Available on the App Store Android App on Google Play