An affordable way to protect you and your belongings

19203359_SA new survey by Nationwide Insurance shows that well over half of young adults do not have renters insurance, which could be financially devastating in the event of theft, fire or on-site accident. Why do so few people in their 20s and 30s purchase this important coverage? In the survey, renters reveal why:

They think it’s too expensive. This is a huge myth about renters insurance. It’s actually affordable! The average renters insurance policy is less than $200 annually. That works out to less than $20 per month — less than the cost of dinner and a movie!

They don’t think they need to have it. More than 40 percent of those without renters insurance don’t think they need it. Yet nearly 70 percent of renters in the survey said it would cost more than $5,000 to replace their belongings in the event of theft, fire or other disaster. Many college students don’t think they need renters insurance, but in reality, if they live off-campus, they probably do.

They don’t understand how it could protect them AND their belongings. In the survey, 40 percent of renters said they didn’t know that renters insurance may cover their stolen property. About 30 percent didn’t know that party mishaps and accidents involving guests are covered by renters insurance. That liability insurance is an important area of coverage that renters shouldn’t be without.

Questions? We’re happy to help!

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