Ruth and her husband bought a house in 2004. Within six months, their house had been broken into three times. On her block, there’s an apartment complex, and in the same time period as her thefts, the complex was broken into. Ruth’s friend, Jenny, lost more than $2000 worth of possessions. She called the police—just like Ruth—and filed a report.

Ruth was lucky her homeowner’s insurance covered the loss. While the items may not be replaceable, they were given money to offset their loss. Jenny, on the other hand, renting the apartment and wasn’t even aware there was an option like renter’s insurance. As a renter, it’s important to understand that your property is valuable, and there are ways to protect yourself and your assets.

Currently, between 81 and 87 million Americans rent property each year. Of those, roughly 60 percent go without insurance. While landlords are required to insure the property, the burden of responsibility to have coverage for an individual unit is on the renter. Just as most states require a car owner have insurance on their vehicle, even when leased—a growing trend in America—many landlords are beginning to insist new renters provide proof of renter’s insurance prior to moving in.

It’s hard to imagine you could have a break-in, but it’s a real possibility. In 2007, roughly 32% of the crimes committed in the nation were property crimes. Renter’s insurance provides a means to protect a renter from a complete loss of their valuables.

Home invasion—while a noticeable need for such insurance—isn’t the only reason, nor is it the most predominant. As winter approaches, fire departments across the country begin their preparation campaigns for winter. The u.s. Fire Administration updates its winter fire safety tips every year, because things like space heaters, wood stoves, and kerosene lanterns are some of the major causes of fires throughout the country.

Francisca Brown is with the American Family Insurance Group based in Madison, wi. “When I was first starting out, I did not understand why I needed to have insurance until I started working for an insurance company,” she said. “But if I had a fire, and had to replace today all [my belongings], I could not have afforded to do so without insurance.”

According to the annual report by the National Fire Protection Association (nfpa), there were an estimated 98,500 apartment fires in 2007, 18.6% of the total estimated residential fires in the country. It is estimated an average of $12,000 in damages caused; and that doesn’t include property loss or loss of possessions. While it doesn’t seem feasible in an economy that leaves little room to budget in an extra monthly cost, can anyone truly afford the loss of more than $12,000 in property—or more? Most policies for insurance are unexpectedly reasonable. “For as little as $150 a year, a person can purchase renters insurance,” Brown said. Outside of insurance companies, most banks or credit unions offer similar, equally affordable, insurance policies. The problem is most renters are either unaware or uninformed about the nature of such a policy, what it entails, and what the process is to acquire one.

Brown runs a program with American Family Insurance called Real Talk, which takes a very engaging approach to discussing insurance. “If you were to make a list of ‘things that are more fun and interesting than talking about insurance,’ you’d start out with a very long list,” Brown said.

Real Talk combines a comfortable atmosphere with informative conversation. Currently, the program runs in Milwaukee, Wisconsin; Cleveland, Ohio; and Indianapolis, Indiana. They’re run at local salons, coffee shops, and other venues, and end with a larger celebration that includes comedians and musical acts. The events are run by local representatives, who understand the neighborhoods and the needs of the residents.

In conjunction with Milwaukee’s wjmr-fm, American Family hosted the events in select Milwaukee area beauty salons this summer. “The event was very successful,” said the Donna Hickles, the owner of Simply Elegant Designs in Milwaukee. “I had the largest crowd. We turned our outing into an outdoor event.”

As a renter, it’s important to understand that your property is valuable, and there are ways to protect yourself and your assets. Unlike homeowners, who are required to get insurance when they close on their house, renters have to be more educated and aware of their options. Renter’s insurance policies are affordable and accessible; when living in the city, it is prudent to acquire a safeguard for the higher likelihood of crime.

Look for more about Real Talk events in 2009. For information, visit realtalkwithamfam.com.

Based in Madison, Wis., American Family Insurance offers auto, homeowners, life, health, commercial and farm/ranch insurance in 18 states. American Family ranks 352nd on the Fortune 500 list and is the nation’s third largest mutual property/ casualty insurance company. For more information, visit American Family online. ¶