There were 43 million renters in the U.S. in 2017, the highest number of renters in the last 50 years. Yet according to the Insurance Information Institute, only 37 percent of those currently renting have renters insurance, leaving 27.1 million renters without protection should catastrophe strike.
Remember way back to your first paycheck. The moment you open the envelope anticipating the windfall when all your hard work pays off. Then, like a swift kick to your gut, realty hits. Your takeaway earnings are almost always way lower than what you expected.
A tight housing market is leading many young adults to postpone purchasing a home, choosing instead to go the rental route. Many simply don’t want to be encumbered with a mortgage and all of the responsibilities that go with home ownership.