Millennials are more likely to rent than to own their homes. But nearly six in 10 don't have renter's insurance, according to a new survey.
The Insurancequotes.com survey, conducted by Princeton Survey Research Associates, found 60 percent of 18- to 29-year-olds are renters—compared with just 36 percent of all Americans. But the majority of them lack coverage.
"I think that millennials just don't take the time to get renter's insurance," said Dick Power, a certified financial planner and founder of the Walpole, Mass.-based investment advisory firm Power Plans. "They don't have a concept of risk."
Read more...Most millennials rent but lack renters insurance
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