What would you do if you lost everything you own except the clothes you are wearing? For many people without renters insurance, this is a real question that occurs every day. In the United States, 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 number includes homeowners, but it’s crazy to think that more people buy a type of TV viewing service in our country than have renters insurance.

If cost is a factor then I say we look at the numbers. The average cost of this coverage varies from state to state, but ranges from $100 to $200 a year, which is the same cost as Hulu, Netflix, and Amazon Prime. How come people are willing to risk everything they own to have a video service? This isn’t even considering people who have all three.

Let’s talk about renters insurance and what it will do for you. Did you know that if someone is injured on your rental property, they may be liable for their damages? Renters insurance covers that. Did you know that if you were displaced from your home but still owe rent, you may have to pay for two places to live? Cover 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’ll give you two guesses, but only one will count. Did you know that most companies give you a discount for having a policy? Did you also know that due to how cheap the rental policy is along with the discount, it is often free?

How can we question if something is needed that can prevent a situation that could change your entire life? For the cost of a great value meal at McDonald’s, you could get millions of thousands covered. If you don’t have renters insurance, the first thing you should do after reading this is contact your agent to find out what you need to do to get a policy. You’ll sleep easier at night knowing you made the right choice!