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 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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*21st Century is not affiliated with Homesite Insurance. The 21st Century Homeowners Insurance Program is underwritten by member companies of the Homesite Insurance group, a leading provider of homeowners, renters and condominium insurance. Member companies include: Homesite Insurance Company, Homesite Indemnity Company, Homesite Insurance Company of California, Homesite Insurance Company of Florida, Homesite Insurance Company of Illinois, Homesite Insurance Company of the Midwest, Homesite Insurance Company of New York, Homesite Insurance Company of Pennsylvania, and Homesite Lloyd's of Texas.
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