by Hollie McAfee
When I was in my early twenties, my husband and I rented apartments. At first, they were furnished by the landlords, until we were able to stock up on our own stuff. Over a few years, we accumulated plenty of furniture, housewares, electronics, clothes, supplies, etc. What we never did stock up on was renters insurance. We probably used the same excuses found in this article.
According to the U.S. Department of Justice, rented properties are 79% more likely to be burglarized than properties occupied by their owners. And the most recent U.S. Census data shows that more adults age 24-34 are renting now than ever before. However, 56% of these renters do not have renters insurance to cover their belongings, as found in a Nationwide Insurance survey.
The Independent Insurance Agents and Brokers of America says that the average cost of renters insurance is only $12 per month for $30,000 in personal property coverage and $100,000 in liability coverage. That’s affordable if you only give up a cup or two of coffee a week. Some companies even offer a discount if you have your auto insurance with them, so it’s definitely worth getting a quote.
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