According to a recent study, 56% of millenials (adults ages 23-35) do not have renters insurance, despite more renters in this age group than ever before.
Over 1,000 renters were polled and the survey found that three-quarters of them were unaware that the coverage was quite affordable. And a whopping 40% do not believe the coverage is a necessity, despite owning thousands of dollars worth of property.
The study raises the question: If you’re a renter and don’t have renters insurance, what are you waiting for?
Renters insurance covers your possessions against damage from things such as fire, smoke, lightning, vandalism, theft and water (but not flooding) - just to name but a few. It also extends beyond on-premise theft and hazards, covering property that is stolen from your car, or lost or damaged anywhere you happen to be.
In addition to protecting your personal property, renters insurance also protects you in the event that you are responsible for injury or property damage to others. That me ...