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11/2003
Amber Cousins or Tara Rio Contact: 800-796-8448
Balboa Insurance Group Launches Renters Insurance Web Site
IRVINE, CA (November 2003) – Balboa Insurance Group, Inc. (BIG) today announced the launch of a Web site designed specifically for consumers searching for high-quality, affordable renters insurance. Unlike most renters insurance programs, consumers visiting www.RentersIns.com can get an instant, no obligation quote, complete the brief application and receive immediate approval.
“We have made applying for renters insurance quick and easy ,” said Drew Gissinger, managing director and president of Balboa Insurance Group. “Consumers no longer have to fill out lengthy applications or wait for underwriting decisions. The quoting and application process can take less than five minutes.”
BIG's insurance company subsidiaries have utilized nearly 20 years of experience in the renters insurance market to create an efficient and easy-to-use Web site that includes many attractive features, such as:
• Personal Property Calculator — Lets consumers c alculate the estimated value of their possessions and assets to help choose the coverage that fits their needs.
• Instant Approval — Because the renters insurance application process is simple and the policies are non-underwritten, qualified consumers can receive an instant electronic approval after submitting the application and credit or debit card information online.
• Resource Center — The Web site features a wealth of information designed to answer consumer questions about coverage options, the claim processes and much more.
Recognizing that renters often overlook the need for insurance to protect their belongings and protect against personal liability, BIG's insurers have created an attractive process that makes renters insurance one of the easiest policies to obtain. With an instant no-obligation quote process, consumers can receive an immediate quote on their desired coverage amount, without having to enter any personal data or provide contact information.
Census data indicates that 35 to 40 percent of U.S. households are renters, representing more than 30 million households. Of those, only approximately 20-25 percent currently have renters insurance* creating a large, underserved market of potential policyholders. BIG has created this consumer-direct channel as an efficient way to reach this underserved market.
About Balboa Insurance Group, Inc.
Insurance company subsidiaries of Balboa Insurance Group, Inc. (BIG), which is a subsidiary of Countrywide Financial Corporation, have been offering insurance products for more than half a century. BIG's insurance company subsidiaries, which are known collectively as the Balboa Life & Casualty group, consist of Balboa Insurance Company, Meritplan Insurance Company, Newport Insurance Company, Balboa Lloyds Insurance Company, Balboa Life Insurance Company and Balboa Life Insurance Company of New York . The Balboa Life & Casualty group is rated "A" (Excellent) by the A.M. Best Company, an insurance rating and information source. An "A" rating represents A.M. Best's opinion that the Balboa Life & Casualty insurance companies have an excellent ability to meet ongoing obligations to policyholders. Balboa Life & Casualty is headquartered in Irvine , California , and has a network of sales and service centers throughout the country. To learn more about Balboa Life & Casualty, please visit www.balboainsurance.com.
*According to the Insurance Information Institute, 2002
Basic renters insurance underwritten by Balboa Insurance Company (Meritplan Insurance Company in CA and LA). Not available in all states.
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