Common reasons given are that renters think the landlord has coverage or they feel their apartment complex has good security. Laura Adams is with InsuranceQuotes.com.
"Forty-eight percent of the survey respondents said that was the reason that they didn't have it — that the landlord has it. And yes, the landlord's coverage only is going to take care of the building. So, you know, the structure, maybe the carpets, the cabinets, something along those lines, if you have a problem or disaster. But it's not going to cover your personal belongings or cover your personal liability."
Adams says more people than ever are renting now, and many think renter's insurance is expensive. But she says renter's insurance averages only about $183 per year.