Is renter's insurance affordable? - FOX13 News, WHBQ FOX 13

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>>

  • Does social media make you spend more money?

    Does social media make you spend more money?

    Wednesday, July 30 2014 8:49 AM EDT2014-07-30 12:49:39 GMT
    The notion of 'Keeping up with the Jones' is not new, but there is a new pressure coming at you. Peer pressure - whether you're 13 or 33 - is a powerful thing. Now throw in social media and you have what an Atlanta counselor calls 'Keeping up with the Jones' on steroids. And if you're not careful that can get costly.
    The notion of 'Keeping up with the Jones' is not new, but there is a new pressure coming at you. Peer pressure - whether you're 13 or 33 - is a powerful thing. Now throw in social media and you have what an Atlanta counselor calls 'Keeping up with the Jones' on steroids. And if you're not careful that can get costly.
  • Mom confronts Ray McBerry over modeling request

    Mom confronts Ray McBerry over modeling request

    Monday, July 28 2014 10:31 PM EDT2014-07-29 02:31:15 GMT
    A twice-failed candidate for Georgia governor found himself face-to-face with a mother furious over what he was trying to do this month with her teenage daughter.
    A twice-failed candidate for Georgia governor found himself face-to-face with a mother furious over what he was trying to do this month with her teenage daughter.
  • 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.
  • 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

WHBQ-TV | Fox 13
485 S. Highland St.
Memphis, TN 38111

Main Station: (901) 320-1313
Newsroom: (901) 320-1340

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