By: Luke Jones, Published on April 12, 2018 10:56 PM, Last Update on April 29, 2018 07:58 PM
Tenants insurance may seem affordable on the surface, with the average premium starting at as low as $15 per month. However, nearly half of consumers asked in a survey said that they could not afford to pay renter’s insurance.
Kanetix used a Google Survey of 1,000 Canadian home tenants, with 485 of them not having any rental insurance protection. President and CEO of the online company, Andrew Lo explained to Canadian Underwriter that the main reason (47.8%) for not getting insurance was the cost, but insurance can be as low as $15.
Other reasons for not having coverage included: