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What would you do if you lost everything you owned except for the clothes on your back? For a lot of people without renters insurance this is a real question that happens every day. In America, only about 41% of people who rent have renters insurance, which is about 45 million people. Did you know that Netflix has over 50 million subscribers in the US alone? I know that figure includes people who own homes, but it's crazy to think that there are more people who purchase one type of service to watch TV in our country than there are who own renters insurance.

If cost is a factor then I say let's look at the numbers. The average cost of this coverage varies from state to state but ranges from $100-$200 a year, which is the same cost as Hulu, Netflix and Amazon prime. How is it that people are willing to risk everything they own to have a video service instead? This is not even considering the people who have all three.

Let's talk about renters insurance and what it all will do for you. Did you know that if someone gets hurt on your property that you're renting, you can be responsible for their damages? Renters insurance covers that. Did you know that if you were displaced from your home but were still required to pay rent, you may be stuck with paying for two places to live? It covers that too. Did you know that if a fire starts in your apartment complex and ruins all your stuff, you are responsible for replacing it? I will give you two guesses but only one will count. Did you know that most companies give you a discount for having a policy in place? Did you also know due to how cheap a renter's policy is coupled with the discount, a lot of times it's free?

How can we question if something that could prevent a situation that could change your whole life is needed? For the cost of a large value meal at McDonald's you could get hundreds of thousands worth of coverage. If you don't have renters insurance the first thing you should be doing after reading this is contacting your agent in regards to finding out what needs to be done to get a policy in place. You will sleep easier at night knowing that you made the right decision!

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Source by Mick Manley