Is renter's insurance affordable?

Is renter's insurance affordable?

Posted: Updated:
ATLANTA -

There are more renters in homes and apartments than ever before.  But, according to national statistics, more than half don't have renter's insurance. The number one reason is that renters, who generally have tighter budgets, think they can't afford it.

Coverage for a renter is actually quite cheap because it's not covering the structure, only your belongings and that's a big difference. If you buy a cup of coffee every day, a recent survey says you spend $20 a week. According to insurance statistics, the average cost of renter's insurance in $15 a month, so it is something you can afford.

Why should you get renter's insurance? All too often in apartment fires, residents lose everything from clothing to electronics. According to insurance providers, too many renters think their landlord's insurance will cover them. It doesn't.

If you have your own insurance, it could cover not only your losses but the cost of housing while your place is getting fixed.

First, shop around for the best deal.  Bundling -- combining car and renter's insurance -- might be the best option. Also, take pictures of everything you want covered, and be generous with your calculations.  Renter's insurance is so cheap you can afford to cover it all. And, ask if you need to buy extra insurance, called a rider, for very valuable items such as a family heirloom.

  • I-Team Story ArchiveMore>>

  • Unresolved bank errors? Help is on the way

    Unresolved bank errors? Help is on the way

    Monday, July 28 2014 8:11 AM EDT2014-07-28 12:11:30 GMT
    Taking on a big bank, even over something like a minor bank error, can be maddening. You feel like no one is listening. It's like being trapped in a maze you can't get out of, but somebody is noticing how frustrating that can be.
    Taking on a big bank, even over something like a minor bank error, can be maddening. You feel like no one is listening. It's like being trapped in a maze you can't get out of, but somebody is noticing how frustrating that can be.
  • I-Team Investigation

    Former Douglas Co. D.A. office manager indicted

    Former Douglas Co. D.A. office manager indicted

    Sunday, July 27 2014 3:24 PM EDT2014-07-27 19:24:49 GMT
    There are major new developments today in the state investigation of the Douglas County District Attorney's office. Tammy Agan, the former office manager, has been indicted on 58 counts of theft and making false statements.
    There are major new developments today in the state investigation of the Douglas County District Attorney's office. Tammy Agan, the former office manager, has been indicted on 58 counts of theft and making false statements.
  • Whistleblower Seeks Sanctions Against Attorney General's Office

    Whistleblower Seeks Sanctions Against Attorney General's Office

    Friday, July 25 2014 9:59 PM EDT2014-07-26 01:59:29 GMT
    In a letter, obtained exclusively by the Fox 5 I-Team, former Ethics director Stacey Kalberman's plans to seek sanctions against the state Attorney General's office.
    More controversy involving the State Ethics Commission. In a letter, obtained exclusively by the Fox 5 I-Team, former Ethics director Stacey Kalberman's plans to seek sanctions against the state Attorney General's office.
  • Contact the FOX 5 I-Team

    * denotes required fields

    We're sorry, but only one entry is allowed per person.
    Thank you for your continued interest.

    Thanks for contacting FOX 5.  To reach our newsroom by phone, please call (404) 898-0100.

Powered by WorldNow
Didn't find what you were looking for?
All content © Copyright 2000 - 2014 Fox Television Stations, Inc. and Worldnow. All Rights Reserved.
Privacy Policy | Terms of Service | Ad Choices