Forty percent of survey respondents state that cost is the prohibiting factor behind the decision not to purchase renters insurance. An additional twenty-four percent of respondents state that they do not have renters insurance because they are unaware that this type of insurance exists.
An additional eighteen percent of respondents believe that the value of their personal possessions does not warrant renters insurance however, according to Assurant Specialty Property, renters insurance not only will replace property but can also protect the renter from liability claims on damages to neighbor's property, personal injury and even offer involuntary unemployment insurance in the event of job loss.
Management companies and landlords see the value in their residents having renters insurance policies as twenty percent of renters indicate that they are required to have a renters insurance policy in order to live in their current apartment. Survey results indicate that more renters would like their management company or landlord to require renters insurance for all renters as more than thirty-six percent of respondents would be more inclined to rent an apartment that requires renters insurance.
About Assurant Specialty Property
Assurant Specialty Property businesses are leading providers of creditor-placed homeowners insurance, collateral protection programs and related outsourcing services. Assurant Specialty Property serves clients and their customers in all 50 states and the District of Columbia. Assurant Specialty Property is part of Assurant, Inc., a premier provider of specialized insurance products and related services in North America and selected international markets. Assurant, traded on the New York Stock Exchange under the symbol AIZ, has over $25 billion in assets and $7 billion in annual revenue.
About Apartments.com
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