A new survey by Allstate found that only 45 percent of U.S. renters have a renter's insurance policy to protect their properties. The average renter owns $30,000 worth of possessions, and 54 percent of renters believe it would take them 3 or more years to replace damaged, stolen or vandalized clothing, furniture and electronics.
Other survey findings include:
- Twenty-five percent of renters use security systems compared to 44 percent of homeowners
- Thirty-two percent of respondents purchased at least two major household items in the past 2 years
- Only a third of renters have cataloged their homes' inventories compared with 44 percent of homeowners.
The survey found that the No. 1 concern for renters is fire damage.
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