New Section Added: How Often Do Tenants Actually File Claims?

I recently added a new section to the "Should You Get Tenant Insurance?" page. This idea stemmed from considering how individuals determine the value of insurance, particularly when finances are tight.

Some renters may overestimate the frequency of claims, so I thought it would be beneficial to provide some perspective with data.

What the Data Shows

Here's what the numbers reveal:

**Tenant Insurance:** Approximately 1–3% of tenants file a claim each year.

**Auto Insurance (for comparison):** About 2.3% of policies file a claim each year.

This indicates that the vast majority of tenants will not make a claim in any given year. However, when accidents do occur, having coverage is crucial.

Why This Matters

When you're deciding whether tenant insurance is worth it, understanding the actual probability of needing it can be helpful. While most people won't file a claim in any given year, those who do face significant financial impact without coverage.

The comparison to auto insurance is particularly interesting — tenant insurance claims are actually slightly less frequent than auto claims, yet most people wouldn't dream of driving without car insurance.

The Bottom Line

I hope this information offers renters an additional factor to consider when evaluating the necessity of tenant insurance. It's not about whether you'll definitely need it, but whether you can afford to be wrong about not having it.

You can find this new section on the decision guide page, right after the introduction.

— Myself — The Entire Staff