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More Minnesotans renting

Apartments
Apartments

MINNEAPOLIS, Minn (KFGO AM) -- The great recession, the accompanying housing crisis and the increase in home foreclosures has resulted in more Minnesotans than ever renting. 

Consumer expert Andrea Woroch says although the majority of homeowners purchase insurance for their home, only 35 percent have renters insurance.

 

Figures show the average renter owns about $20,000 in property and is 25 percent more likely to be burglarized than someone who owns a home.

 

Renters insurance typically costs less than $10 per month.

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