Let's take a look:

Most homeowners have home insurance. If you have a mortgage, it's usually required. But what if you're renting someone else's home. You don't need insurance right? Wrong. The person you're renting from might have home insurance, but that's to protect their property, NOT yours.

So in the event of a burglary, you've lost your valuables and have no recourse.

In fact, a new survey has found that only 34% of American renters have renters insurance. That's a pretty dismal number. The study was commissioned by InsuranceQuotes.com. Of course they have a vested interested in getting a number like this into the public eye because they sell renter's insurance. But they commissioned the survey, they didn't do it or influence the outcome.

The average renter's policy cost about $185.00 per year. That's not going to break the bank and it gives you the peace of mind knowing your valuables are protected...or at least the loss of them. The survey found that 60% of renters think insurance cost anywhere from $250.00 to $1,000.00 a year and that they can't afford it. If you're renting an apartment, keep in mind the landlord's insurance only covers the building, not the contents.

There's a similar situation with condominiums. The owner of a condo must buy their own insurance to cover what's inside the condo. Usually condo insurance is purchased to cover the building through the Homeowners Association.

Conclusion: Fiction