How many renters actually have renters insurance in the U.S.?

"Because it's so cheap, is renters insurance pretty common or do a lot of people skimp on it?

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Answer provided by
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Jackie Whalen
Answered on Apr 08, 2021
Jackie Whalen has been in the insurance industry for over 7 years, working in sales, service and claims. She has won numerous awards as a top salesperson and customer service agent. She currently lives in New York with her husband. Her 24 year old son recently moved out on his own which has given her more time to travel, write and train her dog Maisy not to chase her cat, Whiskey.
“According to the latest statistics, only 37% of renters in the United States have renters insurance despite the fact that insurance premiums have actually gone down for renters.
It is shocking that so many renters still do not have coverage. Renters insurance helps cover the tenant in case their personal property gets damaged or stolen, or if they are displaced from their property due to weather conditions or fire, for example.
More landlords are discovering the benefits of making renters insurance mandatory, so I think we will see the number of renters insurance policies increase steadily over the next few years. “
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