The survey found:
- 2/3 of U.S. families that rent lack coverage
- Of those without coverage 26% feel the coverage is too expensive, 17% didn’t know they needed it, 8% never heard of renters’ insurance
- 89% own one or more valuable electronic devices & 53% own exercise and/or sports equipment
- Half of all renters own pets which increases their liability exposure
Renters insurance “replaces furnishings and property in an apartment, condominium or other rental home should those items be stolen, destroyed or damaged. The policy also includes liability coverage, a safety net against a lawsuit or claim that potentially could result in a large financial hit on renters.”
The average cost of a renters’ policy is “$20 per month for around $20,000 of property coverage and $500,000 of liability coverage.” That comes to only $240 a year. Not too much for covering all your most expensive items and protecting against potential “slips and falls, accidents, pet attacks and lawsuits by landlords.”
Let me know if you have purchased renters insurance and if you feel it was worth it.
I will be writing more about renters insurance in future posts.
» NowWhat.com Educates About Renters Insurance & Auto Insurance. Part 2 from TheInsurancePolicy
Taking off from yesterday’s post about Auto Insurance Education on the NowWhat.com website I’ll dive into the renters insurance portion. If you’re currently renting you might want to check out the Now What website to learn more ... [Read More]
Tracked on: May 1, 2007 12:23 PM | Permalink to Trackback