The number of renters has grown dramatically in some of the most populous U.S. cities, according to the Insurance Information Institute (III), but few have insurance.

Only 37% of renters are covered, whereas 95% of homeowners have a policy, the III says. And according to research from Protect Your Bubble, a nationwide provider of renters' insurance policies, the average renter owns more than $12,000 in valuables.

Most possessions reside in the kitchen, which houses Keurig brewing systems ($150), a refrigerator ($900), convection range ($2,900) and Vitamix blender ($450).

Want to continue reading?
Become a Free PropertyCasualty360 Digital Reader

Your access to unlimited PropertyCasualty360 content isn’t changing.
Once you are an ALM digital member, you’ll receive:

  • Breaking insurance news and analysis, on-site and via our newsletters and custom alerts
  • Weekly Insurance Speak podcast featuring exclusive interviews with industry leaders
  • Educational webcasts, white papers, and ebooks from industry thought leaders
  • Critical converage of the employee benefits and financial advisory markets on our other ALM sites, BenefitsPRO and ThinkAdvisor
NOT FOR REPRINT

© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.