"IIABA and its Trusted Choice agencies are surprised by the survey result because our society pays such careful attention to securing auto insurance for our vehicles, yet we have millions of renters neglecting the need to insure the rest of their possessions," said Robert A. Rusbuldt, IIABA chief executive officer.

IIABA said that more than 81 million Americans rent homes in the United States. A frequent reason many renters give for not purchasing renters insurance is the expense, the association continued. However, renters insurance policies cost as little as $10 per month. The average cost of renters insurance is $12 per month for about $30,000 of property coverage and $100,000 of liability coverage.

Rebecca Woan, principal with Chartwell Insurance Services in Chicago, said agents can make customers aware of the coverage either through mailings or as a part of their automobile insurance program discussions.

One thing agents should keep in mind, she said, is to discuss renters insurance as part of a homeowners program for parents with children going away to college, especially at this time of the year. Their homeowners coverage may extend to their children away at school, but a typical deductible of between $2,500 to $5,000 would probably exceed the student's losses. Purchasing an inexpensive plan would not only cover their son's or daughter's contents, but would mean the parent would not have to file a claim under their homeowners policy.

Ultimately, like all insurance, it is the client's decision to make the purchase, but by informing policyholders, agents also avoid errors and omissions issues, she noted.