congratulations on your decision to obtain renter’s insurance.
based on your article, I’m not sure that you realized the extent of
the risk you were taking in not having the coverage prior to now.
Yes, you could have had your belongings stolen, or you could have
had your belongings destroyed by a fire that one of your neighbors
accidentally started—but those are minor risks.
the bIG rIsK is liability. What if you caused the fire in your
apartment building? What if you bumped into an old lady in the
local market, causing her to fall and break her hip? What if you
forgot to open a drain and flooded adjoining apartments? If you
golf, what about damages or injuries you might cause by an errant
drive? What if you have some friends over and someone trips on a
throw rug and splits their head open on the corner of a coffee table?
All of these scenarios and many others have the ability to greatly
affect your life style in the event someone sues you for the
damages for which you would be held responsible. I submit that
losing $25,000 in personal property has only a short-term effect,
while a 6- or 7-figure liability claim (not to mention court costs)
would be a life-changing event. Your USAA representative should
not have minimized the importance of liability coverage by saying
it was included at no charge. Liability coverage is as vital if not
more so than property coverage for renters. As agents we need to
do a better job of communicating the risks and importance of the
liability coverage that renter’s provides.
by the way, depending on your assets/net worth you may want to
call UsAA back and increase the liability coverage on your policy,
or even add an umbrella policy.
Farm Bureau Financial Services
West Des Moines, IA
To Bryant Rousseau, Editor in Chief:
How disappointing it was to read your editorial as it appeared in
the October 17 issue of national Underwriter. It demonstrated
to me your lack of understanding of our business along with
a complete disregard for significant injury that your personal
activities could inflict on others.
In my opinion, you should either explain yourself (what was your
objective in writing this) or resign. In either case you should learn
more about your responsibility in holding high office in a major
industry trade publication.
Eden Prairie, Minn.
I have never written to a magazine in my life. I don’t want my
name and agency published if you choose to print my comments.
But your Editor’s Corner in the 10-17-2011 NU magazine really
got my attention. this magazine is read by many independent
insurance agents and brokers. I looked at your Advertiser Index
in this issue and most of your advertising comes from insurance
companies or service providers who get the bulk of their business
from independent insurance agents and brokers. And yet . . . you
go looking for renter’s insurance from direct writers of insurance
like UsAA and state Farm. UsAA is a 1-800-who-cares company.
In the future, you will never talk with any person who knows you at
UsAA. state Farm would at least know you as a name, not a number. but
they don’t have options. You get what State Farm offers with no choices.
If you had called an independent insurance agent and broker, they would
have probably given you choices. For example, did UsAA or state Farm
offer you $300,000 or $500,000 of personal liability insurance coverage
for just a few extra dollars? If you knock over a little old lady on a NYC
sidewalk and break her hip, is $100,000 of personal liability going to be
enough insurance when she and her attorney sues you for negligence?
You confess a lot. You confessed in your first editorial in NU you knew
nothing about insurance. You confess you had issues when at Multi-Housing News. You confessed to your readers that you have been an
uninsured man. Are you catholic? In my opinion, your recent editorial
would have carried much more weight with the majority of your readers
if you had included your experience getting quotes from an independent
agent and broker. You mention “carrier marketing executives.” And
you did not get a quote from an independent agent who represents the
companies whose marketing executives approve the advertising budget
in your magazine????? How much advertising revenue does nU and its
family of magazines derive from state Farm and UsAA?
So sorry Bryant, but IMO, you really missed the boat on this. You
can correct your error by reporting on an experience getting a
renter’s insurance quote from and independent agent and broker
in a future issue of nU.
Love the magazine. nU is the one trade magazine that I always read.
name Withheld Upon request
I just read your article and cannot believe you went with UsAA vs. an
independent agency company. Do you think anyone from UsAA or
state Farm reads your magazine? What a slap in the face of your readers.
If I did not need the information provided by your magazine, I would
cancel my subscription. I hope you get more emails on this matter.
Timothy A. Jolly
Tim Jolly Insurance Agency