Facts & Information - Just for Renters

Did you know .

• 1990 U.S. census data indicates that there are approximately 32.9 million renters in the United States.

• 4,187,189 of these renters are under 25 years of age.
• 10,849,257 are ages 25 to 34 years.
• 6,890,085 are ages 35 to 44 years.
• 3,529,283 are ages 45 to 54 years.
• 2,515,323 are ages 55 to 64 years.
• 2,444,676 are ages 65 to 74 years.
• 2,506,786 are ages 75 years and over.

• An April 1999 study conducted by the Insurance Research Council found that only 23% of renters had purchased coverage.

• A study conducted by the Independent Insurance Agents of America in cooperation with the College Parents in America found that 80% of students who rent have no renters insurance.

• This is number is important because 55% of students live away from home during the school year (20% rent off-campus apartments and 10% own their own home).

• When it comes to buying renters insurance to protect personal possessions, few students bother with the investment because they think that they're covered under their parents policy.

• However, according to the Independent Insurance Agents Association of New York Inc., parents' homeowners policies provide only limited protection for their children's belongings while on campus.

• Students are only covered by about 10% of their parents' policy when living in an apartment.

• According to an August 5, 1998 article in PR Newswire, those people who are most at risk for property losses at school are:

• Students who live away from home.
  
• Students who rent (especially those who rent in their own name or co-sign a lease with a parent).
  
• Students who live in group houses (including fraternity and sorority houses).
• Students who own expensive electronics, sports equipment or jewelry.
  
• Students who live in large cities or high crime areas.
  
• Students who travel frequently (including students who travel or study abroad).
  
• Students who run businesses from their dorm or apartment (i.e. typing papers or tutoring).
  
• Students who host frequent parties.
  
• Students who have animals (especially dogs) at school.
  

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