“Carpartment Insurance”—A New Insurance Option for Millennials
Quincy-based Arbella Insurance Group—an insurance company that provides personal and business insurance in Massachusetts and Connecticut—has launched a new product aimed at millennials (those born between 1980 and 2000). Many of these young adults own cars and are renters, and as such, Arbella’s new “Carpartment Insurance” combines auto insurance with renters insurance. It was designed to call attention to the need for renter’s insurance, as well as to make getting both types of coverage simpler and more affordable.
Existing Arbella auto insurance customers can add renter’s insurance for as little as $3 per week, according to the company’s advertising. In addition, the company is offering a 10% auto insurance discount for existing policyholders who purchase renter’s insurance through the Carpartment program.
With only 30% of renters nationwide having renter’s insurance, Arbella hopes to make young people understand that without it, their possessions are not covered. By offering the bundled coverage and making a big advertising splash, they are hoping to raise awareness of the need for renter’s insurance, as well as make purchasing it easier and more affordable.
If you have been going without renters insurance, now just might be the perfect time to get the coverage you need. With the Carpartment option, you can get auto and renter’s insurance at once, with affordable rates and minimal hassle. You’ll have the protection you need for your TV, smartphone, computers, clothes, furniture, jewelry and all of your other belongings.
Are you a renter who is currently going without renter’s insurance? Are you aware of the importance of renter’s coverage? Talk to one of our agents today to see if you’re eligible for the Carpartment option and to learn more about your coverage choices.