Less than a third of renters have renters insurance
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Nearly seven of ten renters choose to go without renters insurance, the Insurance Information Institute ( I.I.I.) revealed in a recent report.

According to a survey conducted in May 2012, just 31 percent of renters have renters insurance. The majority of homeowners in the U.S. have home insurance, the I.I.I. said, but the same cannot be said for renters.

“Renters insurance provides financial protection against the loss or destruction of your possessions when you rent a house or apartment,” Jeanne M. Salvatore, the I.I.I.’s consumer spokesperson and senior vice president for Public Affairs, said in a statement.

Renters outnumber homeowners in some of the largest U.S. cities, the report noted, led by New York City (69 percent of households rented), Chicago (55.1 percent rented) and Houston (54.6 percent rented).

“While your landlord may be sympathetic if you experience a burglary or a fire, your possessions are not covered by your landlord’s insurance,” Salvatore said. “The good news is that renters insurance premiums are relatively inexpensive.”

According to data from to the National Assoc…………… continues on e-wisdom.com

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