I ask tenants all the time, Do you have a policy to cover your personal belongings in the event of a tragedy? 4 out of 5 times I get the same response, "I don't have enough sfuff to worry about getting insurance." 
Well, I'm here to tell you...when you do have a fire, flood, hurricane or tornado that destroys the home you are living in...and you have no insurance...you will find just how many things you really did have!
I've seen it happen, more than once! It's very sad!
Homeowners insurance, car insurance, medical insurance, life insurance...but how often do we talk about renters insurance?
It is astounding to me that over 60% of tenants have no insurance on their belongings! The typical tenant has about $30,000 in belongings!
So why don't they have insurance?
-some just haven't taken time to look -some think it's probably too expensive -some think they don't need it -some think that it is the landlord's responsibility
A landlord's rental dwelling policy typically covers the building itself. Some cover fire and liability. Some cover replacement cost of 
appliances.
Typcially a landlord's rental dwelling does not cover a renters belongings, or the contents of the property. So, if there is a fire, flood, hurricane, tornado or something similar that destroys the home, the tenant's personal belongings are not covered.
A renters policy is about $15 to $20 a month, depending on the value of their contents. That's cheap for piece of mind!
Before considering a policy, do an inventory of your belongings, take a video and many pictures of your items, place a figure on it of what it's worth, pull a copy of your credit report, and then start shopping for prices.
Don't wait, do it today!
Visit my website at www.SandyShoresMelbourne.com
that for you
I'm actually surprised that it is that high. I'm not sure if I've ever known someone who had renter's insurance, including me when I was a renter (ooops).
Hey Jim, Really? Surprised it's that high? Hmmmm....I guess I never really thought about it like that...but I suppose you're right...I've only known a small number of renters that have renters insurance. Such a small investment for piece of mind, but I know some that struggle paycheck to paycheck and just cannot fit one more item into the budget! Take care and have a great week!
We bring this up every time we do a lease with a tenant. We have 2 boys in college who have computers, x boxes, guitars, amps, etc. You can bet they Do have tenant insurance. ANd it only costs about $10 a month.
Hey Leslie, So glad to hear that young college boys are responsible enough to have renters insurance! That's excellent! In every lease I have a new tenant sign, I have two paragraphs in the body of the lease, in which I require they sign, disclosing the fact that their belongings are not covered under the existing rental dwelling policy and that we recommend they get insurance. Then I have a separate addendum saying the same thing, notifying them that we highly recommend they get renters insurance. They sign that also. I truly wish more would go out and get it. But, some just can't afford it! Thanks for the enlightening comment and take care!
Sandy, you are absolutely right. But unfortunately most renters don't care about that. A lot of them live day to day, rent to rent, and don't think of the importance of insurance. A majority of them don't even have sufficient car insurance or even life insurance. I have many rental properties and I've been working with tenants for many years and in all the years I've had only a handful of them that carried renter's insurance.
Hi Meli, My experience has been the same as yours. They just never seem to get around to getting renters insurance, for one reason or another...often times, as you mentioned because it is just not a priority to them. I think with so many types of insurance, some are of the opinion, that it just won't happen to me. Well, I have seen renter's lose everything...and have no insurance. It is terribly sad. It is times like those when they find out just how much they really did have. I have had rentals for the past 12 years, and I enjoy the rentals, as well as the tenants. Always good to hear of a fellow landlord. Best wishes in all you do and with your rentals! If you ever want to "swap" stories...touch base back...I'm sure you have plenty of them (I sure do!)
I have always wondered why so many don't even consider renter's insurance. You are so right about it.
Hey Trey, I always ask tenants why they don't have it or if they are going to get it...and the answers are all over the place...depending on the individual situation. In the past couple of weeks we just had Tropical Storm Fay come through our town with over 27 inches of water. Many people I know had water coming into their homes, and many lost everything. It is very very sad! My heart truly goes out to those people. We fought water during a good part of the day Fay was here. But, stats show that only about 30% of people had flood insurance, mostly homeowners. So most are not covered. I can bet you they'll get it now. Sometimes it takes a loss or tragedy of your own to go out and get that extra insurance. It's truly a shame! Take care and have a great week!