Hispanics account for more than half of all renters in the US

A recent study conducted by State Farm, consisting of more than 500 tenants, was designed to measure knowledge and understanding regarding renters insurance in the Hispanic community. The results indicated that almost half (43%) of those without insurance tenant survey respondents, think they cannot pay for it. However, 88% of respondents overestimated the cost of a typical policy tenant per month, with more than half thinking that costs $ 50 or more per month, when in many cases Renters Insurance ranges from US $ 12 monthly.”It seems that there is confusion when it comes to renters insurance,” Stephanie Colegrove said, VP of Operations and Subscription mortgage loans. “We want everyone to know that if your belongings are stolen during a break-in at home or are damaged by a fire or other covered loss, an insurance policy tenant may allow them to recover their valuables.”According to the report State of Hispanic homeownership in 2013 the number of Hispanic households has grown from 9,2 millions in 2000 to 14,700,000 in 2013, representing a growth rate of 60%, Hispanic households representing more half of all tenants. As more Hispanic families rent their residences, understanding the benefits of renters insurance is much more important.