Renters Insurance Popular In Minot | Video

Julie Leonardi | 3/12/2013

A recent survey by an online insurance agency said only 34 percent of Americans have renter’s insurance. But with all the people renting their homes in Minot, one local insurance agency said renter`s insurance is actually on the rise.

Farmers Union Insurance in Minot said they`ve seen a 10 percent increase in the last year of people buying renter`s insurance for their apartment. Policies are usually around $100 per year, and it`s optional. It just depends on how many valuables or assets you have to lose.

Steve Heilman, Farmers Union Insurance Agent, said he’s seen many families start renting, and looking to buy renter’s insurance. “We’ve seen a lot of families moving in, not just single people. Especially with the oil field work, there are good jobs here, and the families have more assets to insure.”

Most of the local property management companies only insure the apartment itself, not the renter`s belongings.

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