Here is what Progressive found out in a recent renters survey:

72% of Millennials don’t have renters insurance. They THINK:

Nothing will ever happen to me (17%)

I live in a safe building, I don’t need to lock my door (13%)

Renters insurance is too expensive (25%)

I’m covered by my roommate’s insurance (22%)

REALITY CHECK:

Theft is the most common renters insurance claim.

Renters insurance can cost less than $20. per month.

Unless items are considered “shared goods”, roommates need separate renters policies.

As published in IA Magazine, 2/2016

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