COLUMBUS, Ohio (WTVN) -- With more and more people opting to rent versus buying a home, a survey finds that more than half aren't carrying a renters insurance policy.

Nationwide Insurance found that the 56 percent of young adult renters do not have renters insurance - leaving their homes and belongings at risk. Additionally, 75 percent of those without renters insurance don’t realize they can get monthly coverage for as little as the cost of a pair of movie tickets.

“It’s clear that there’s a misconception among millennials about the importance of renters insurance and how much it really costs,” said Matt Jauchius, Nationwide’s chief marketing officer. “For the $20 renters spend on items such as coffee and streaming video, they can get excellent coverage to help protect their belongings.

The survey also found that more than 40 percent of those without renters insurance don’t think it is needed at all. However, 68 percent of all young adult renters said it would cost most more than an estimated $5,000 to replace their belongings should an unfortunate event occur. Renters who currently have renters insurance said they purchase policies because they want to feel protected.

The two biggest fears among renters are fire and theft, while three percent fear a zombie apocalypse. Twenty-four percent of these renters said they would save their laptop computer before anything else, including heirlooms, mobile phones, and hidden cash. Forty percent of renters surveyed don’t know that renters insurance may cover their stolen property. 

One in three renters don’t believe party mishaps are covered by renters insurance, when in actuality renters insurance may cover claims from accidents such as a broken door, an injured party guest, or a damaged laptop. 

Since 2008, Nationwide Insurance has paid more than $184 million in renters insurance claims, averaging nearly $4,000 per claim.

(Photo courtesy Getty Images)