Did you know that your personal belongings and liability are not covered in your landlord’s policy when you rent a house or apartment in Texas? Your landlord only buys insurance to protect the building you live in, and that policy cannot replace your damaged personal belongings. The only way to protect what matters to you most is by buying renters insurance. At McCrary Insurance Agency, we recommend learning everything about the policy before buying. Here is what you need to know about renter’s insurance.
Also known as tenant’s insurance, renter’s insurance is designed to protect you financially against unexpected events like fire. You may not always be able to control some accidents like break-ins, visitor injuries, or burglaries, and that’s where renter’s insurance comes in. The policy generally covers personal property like furniture, appliances, electronics, and liability if someone is injured in your home and additional living expenses if your rented apartment becomes uninhabitable.
There are two types of renters insurance:
The amount of insurance to buy depends on the value of your property. Determine how much you would need to replace everything in that house and select a package that matches that amount. Make sure you have an updated inventory and take pictures or videos of all items in your home. This helps in the claiming process when you can’t produce receipts of everything stolen or burned in the fire.
Just like home insurance, renter’s insurance does not cover all your possessions. Sometimes your Texas insurance company may require you to obtain separate coverage items like coin collection, jewelry, and artwork.
Feel free to contact McCrary Insurance Agency for more information about renter’s insurance.
