Most people don't think of renter's insurance.
A 2006 estimate by the US Census Bureau proposed that 30% of Hillsborough County resides in some type of rental property-over 350,000 citizens.
Renters typically do so for economic reasons: the average rent in Tampa is just over $810 per month, which is $400 less than the average monthly mortgage payment faced by Florida homeowners.
Although renters are saving money on housing, many are taking a far greater risk than they're aware.
A nationwide study estimates that just under 30% of renters expend the time and money necessary to maintain renter's insurance; if this statistic holds true for Hillsborough County, over 245,000 residents are currently risking the total loss of everything they own.
Consumers in Tampa, like renters everywhere, don't obtain renter's insurance for a variety of reasons: the cost, the hassle, the mistaken notion that they're covered under their landlord's insurance policy.
None of these reasons are good enough.
The cost is actually very reasonable.
In 2005, Florida renter's insurance had an average yearly premium of around $200, which is peanuts compared to the $20,000 worth of stuff most people have in their apartment.
As for the landlord, his policy covers his building, and not much else.
In most cases, nothing in your apartment is covered if the complex burns to the ground.
But although they happen, fires and floods shouldn't be the main concerns for renters in Tampa, anyway.
The primary reason for renter's insurance is theft.
Nationwide, renters are 50% more likely to lose possessions to theft and burglary than homeowners.
Replacing stolen property, filing police reports, going without your possessions while your case is processed-that's a hassle.
What's not a hassle is contacting a licensed insurance agent specializing in renter's insurance in the Tampa area.
A 2006 estimate by the US Census Bureau proposed that 30% of Hillsborough County resides in some type of rental property-over 350,000 citizens.
Renters typically do so for economic reasons: the average rent in Tampa is just over $810 per month, which is $400 less than the average monthly mortgage payment faced by Florida homeowners.
Although renters are saving money on housing, many are taking a far greater risk than they're aware.
A nationwide study estimates that just under 30% of renters expend the time and money necessary to maintain renter's insurance; if this statistic holds true for Hillsborough County, over 245,000 residents are currently risking the total loss of everything they own.
Consumers in Tampa, like renters everywhere, don't obtain renter's insurance for a variety of reasons: the cost, the hassle, the mistaken notion that they're covered under their landlord's insurance policy.
None of these reasons are good enough.
The cost is actually very reasonable.
In 2005, Florida renter's insurance had an average yearly premium of around $200, which is peanuts compared to the $20,000 worth of stuff most people have in their apartment.
As for the landlord, his policy covers his building, and not much else.
In most cases, nothing in your apartment is covered if the complex burns to the ground.
But although they happen, fires and floods shouldn't be the main concerns for renters in Tampa, anyway.
The primary reason for renter's insurance is theft.
Nationwide, renters are 50% more likely to lose possessions to theft and burglary than homeowners.
Replacing stolen property, filing police reports, going without your possessions while your case is processed-that's a hassle.
What's not a hassle is contacting a licensed insurance agent specializing in renter's insurance in the Tampa area.
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