GRAND JUNCTION, Colo. (KKCO) -- Most homeowners wouldn’t consider having a home without insurance. Most drivers wouldn’t consider driving without insurance. However, most renters aren’t considering rental insurance.

According to a survey by InsuranceQuotes.com, only one in three renters has insurance.

“People say hey, that’s not going to happen to me, I take care of my stuff… and that’s where you really want to be cognizant of the fact, you could do everything right, but are your neighbors doing everything right?” said Jerry Martinez, agent with Jerry Martinez Insurance Agency.

Owner’s insurance covers the building a renter is residing in, but doesn’t cover any personal belongings of the renter.

Dena Watson, broker and owner of Freedom Property Management, said she had a tenant whose washing machine overflowed, causing water damage to their unit and two other units. The tenant had to pay $3,000 for cleanup and extracting water from all three units.

The survey indicated many respondents overestimated the cost of rental insurance. Sixty percent believed it cost at least $250 per year, and 21 percent believed it cost up to $1,000 per year. However, the average policy costs $185 per year, according to the National Association of Insurance Companies.

“Have that conversation, you’ll be so surprised how much it will cost you if it’ll cost you anything,” said Martinez. “It’s one of those things that’s an added protection to your lifestyle and if something were to happen, why start all over?”

Martinez recommends coupling renter’s insurance with auto insurance and said doing so can actually reduce your auto insurance amount.