According to the Insurance Information Institute, 95 percent of homeowners have insurance to cover loss or damage to their property and belongings. However, only 37 percent of renters have a policy to protect their possessions. Common misconceptions are that a landlord's homeowners policy will cover a renter's belongings or that renters insurance is expensive. With more people renting as opposed to buying, it's time for renters to protect themselves in the event of an accident, a theft or a disaster.
Here are a few topics Consumer Affairs' expert, Matthew Brodsky, covers in the guide:
- What are the different types of Renters Insurance companies – and which one will meet your specific needs?
- Is renters insurance expensive, or are there ways to keep costs low?
- Does the company offer options that pertain to your lifestyle?