5/31/2012 - Seven in 10 do not carry renters insurance
Despite the fact that theft is more likely to take place among renters than homeowners, a considerable number of renters do not have renters insurance
, a new survey indicates.
According to a national poll conducted by Apartments.com, 70% of renters live without renters insurance, even though they experience theft 50% more often than homeowners do.
Insurance expert John Ammendola noted that many renters often do not purchase coverage because they do not think it is necessary.
"Although many landlords require renters insurance coverage from their tenants, there are some that make it optional," said Ammendola. "Because of the high percentage of burglaries and the risk of damage due to other tenants' actions, having renters insurance is a great safety net for tenants."
He added that because tenants cannot control what their fellow tenants do, their belongings could be at risk of fire or some other accident. While policies vary, a typical renters insurance plan covers most possessions including furniture, appliances, electronics and clothing.
To learn more about renters insurance from Selective
, click here
or talk to your Selective independent insurance agent