Half of renters under 35 don’t have home insurance
News from News1130:

VANCOUVER (NEWS1130) – According to a new TD Insurance poll, half of renters under 35 in our country don’t have renter’s insurance.

This is leaving young people vulnerable to losing thousands of dollars due to theft or accidents.

There are a couple of myths about insurance that need to be debunked, says TD Insurance VP Dave Minor.

“They don’t believe they can afford it,” he explains. “One of the things we want to do is help break down that myth. It’s not really that expensive, understanding especially young folks and students particularly, and money’s hard to come by so everything is relative.”

He says that liability coverage for $ 1-million, with a $ 500 deductible, costs about $ 150 a year, or approximately $ 12.50 dollars a month.

Another problem is people think the chances of theft and accidents happening to them are low.

But Minor adds things like frozen water pipes or damage to a landlord’s property are very common.

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