Aging Renters Emerge as a Strategic Growth Opportunity for Insurance Providers, New TransUnion Report Finds

More than half (53%) of renters are now over 40 years old, as homeownership continues to be delayed for Millennial and Gen Z consumers. While many from this cohort may never buy a home, they represent a key strategic market of stable and profitable customers that many property insurers have overlooked, according to TransUnion’s (NYSE: TRU) latest Insurance Personal Lines Trends and Perspectives Report . On average, renters insurance premiums are only $171 annually, leading insurers to view them as less desirable and not worth further engagement.