Brand New Belongings Insurance

I saw a Nationwide Insurance ad last night that talked about “Brand New Belongings” insurance.

The insurance industry has long called this replacement-cost coverage.  I love the phrase, “band new belongings” though.  The term is more descriptive and more easily understood than replacement cost.  Brilliant.

Great marketing, Nationwide.

My industry needs to get better at building understanding with insurance buyers.  I started calling the financial institution bond the “fraud-bond” a few months ago — thinking that most bankers don’t know what the bond covers.  Adding the descriptor “fraud,” I think, helps.