Are you new to the renter’s community, or have you been a renter for a while now? No matter your renting status, you need to know about renters insurance. It is sometimes surprising that many people don’t know about renter insurance and how important it is. Well, this is where we are here to help. Take a look at what renter’s insurance is and how it can be beneficial to you.

What is Renter’s Insurance and Why is it Important?

As a renter, you know that the property you are staying on is not yours. When you signed your list, you made an agreement with your landlord and vice versa. In this agreement, there is a list of things that you are responsible for and things that your landlord is responsible for. In the case that something happens, you have to check if your landlord is responsible for taking care of what happened or not. 

Something that you should take into consideration is that your landlord is not responsible for personal belongings. So, if something happens to their property and your personal property gets damaged, the landlord’s insurance is not responsible for replacing your items. This very scenario is why renters insurance is important.

Call Texan Insurance Agency and ask about Renter’s Insurance.

Renter’s insurance is a plan that you sign up for with an insurance company that protects your personal property as a renter. So, if you are robbed or a pipe bursts and damages your belongings, your renter’s insurance covers that. Unfortunately, flood-related incidents are not included, but you can always get that separately. 

In some states, renters insurance is required by law. It is not required by law in Texas, but a landlord can require you to get it. No matter what the requirement is, it’s all about protecting your property at the end of the day, and this is an easy way to do that.

Plan Ahead

So, now it’s time to start planning ahead. Finding an insurance company to assist you in setting your renter’s insurance is easy. You can call on us, Texas Insurance Agency, to help you out. 

If you are thinking about costs, don’t stress yourself. In the state of Texas, the average renter’s policy is about $20 a month. So, you won’t be breaking the bank by getting renters insurance. 

As you are planning ahead, it’s a great idea to know how replacing or repairing your items works. It is also important to note that you must first fill out a home inventory. This is the way the insurance company will know the item is part of your property and that they can replace it. 

Then paying attention to how making a claim works is also important. The insurance company will pay you a certain amount to replace or repair the item in question. The monetary value is based on the item and what it cost at the moment.  

Renter’s insurance is there to be a coverage. So, having it on hand for just-in-case purposes will always be a smart idea.