The Arbella Insurance Group said it is launching a new product called “Carpartment Insurance” that is designed to be especially attractive to renters under the age of 35.
The product combines auto insurance with renter’s insurance. Customers who already get their auto insurance from Quincy-based Arbella can add renter’s insurance for as little as an additional $3 a week, according to a TV ad supporting the new product. Or as a special carpartment website puts it: “Driver’s seat? Or Love seat? Either way, your butt’s covered!”
“Renter’s insurance is carried by only 31 percent of tenants nationwide, and many of the uninsured have no idea that their possessions aren’t covered,” Jim Hyatt, Arbella’s vice president of personal lines, said in a statement. “Tenants, especially first-time renters, need to realize that going without renter’s insurance is a big risk, as rental units are burglarized 50 percent more often than owner-occupied properties. By offering renter’s insurance that’s both inexpensive and easy to purchase, we’re helping our policyholders to minimize that risk.”
As an incentive, Arbella said it is offering a 10 percent auto insurance discount for existing policyholders who also purchase renter’s insurance through the Carpartment program.
Arbella is a regional property and casualty insurance company, providing personal and business insurance in Massachusetts and Connecticut, and business insurance in Rhode Island and New Hampshire.
The general theme of its advertising is “Here. For Good.” The TV ad supporting the launch of carpartment insurance was created by Full Contact Advertising of Boston.