Today’s housing market is quite complicated, which is why many people, especially millennials in Connecticut are renting instead of buying.
Renting allows you to carve out your on slice of home without worrying about large down payments, mortgages, and taxes. With that slice comes liability, such as stolen items, damage to your car, injury to guests, or your beloved pooch attacking your neighbor. If you are not covered for these types of things you will be paying directly out-of-pocket.
According to the Insurance Information Institute, only 37 percent of renters buy renters insurance, while 97 percent of homeowners carry homeowners insurance.
Fortunately, we are here today telling you that renter’s insurance is actually quite affordable and should be highly considered when renting.