HomeRenters InsuranceFewer home buyers highlights need for renters' insurance | Home and Outdoor...

Fewer home buyers highlights need for renters’ insurance | Home and Outdoor Living

The rental housing market in the United States has reached a 50-year peak, with more than 114 million Americans living in landlord-owned properties. Renting a house, apartment or condo means that the ownership of that property belongs to someone else – the landlord.

“A common misconception is that a landlord’s insurance policy for the property eliminates the need for renters to purchase their own insurance,” said Bonnie Lee, vice president of Property Claims at Mercury Insurance.

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