CHICAGO, Oct. 31 /PRNewswire/ — Car owners know that they must have insurance to drive and homeowners carry coverage to protect their possessions, however, according to a recent Apartments.com survey to current renters, fifty-eight percent of respondents indicate they do not have renters insurance. Conversely, more than seventy percent of respondents without renters insurance believe that carrying this type of protection is an important part of renting that affords them peace of mind.
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.
As part of its monthly “What Renters Want” research series, Apartments.com surveys renters on various topics. For more information on these surveys or to receive a copy of additional survey result, please contact Lisa DeVries at ldevries (at) apartments (dot) com.
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. For more information, please visit http://www.assurant.com.
Apartments.com is the most visited national apartment Internet listing subscription service with more than 50,000 unique addresses representing more than three million rental units from managed properties, newspaper classifieds and for-rent-by-owner properties. With personalized searches, highly visual ads featuring 360-degree virtual tours, professional photography, and comprehensive community listings, Apartments.com makes it possible for renters to access apartment rental inventory from across town or across the country. Leads from highly qualified, ready-to-rent prospects are delivered to Apartments.com customers, increasing closure rates and decreasing the average cost of leasing an apartment. The site’s foundation of solid partnerships with the local newspaper and television station Web sites of more than 10,000 newspaper affiliate and strategic partners across the country include Yahoo! Real Estate, the Chicago Tribune (http://www.chicagotribune.com), The Washington Post (http://www.washingtonpost.com) and the Los Angeles Times (http://www.latimes.com). Apartments.com is a division of Chicago-based Classified Ventures, LLC.
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