Renters Insurance

All across the wonderful state of Texas, there is an abundance of residents who rent a home or an apartment. Renters insurance is a policy designed for those who doesn't own the building or property, and want to insure things such as their personal contents (furniture, clothes, laptops, etc.). TexPro Insurance partners with Texas' top Renters Insurance companies to tailor a policy to your needs at the best price. Contact us today for a free quote and consultation.

Renters Insurance Coverage

Renters Insurance policies typically include 3 coverages:

Personal Property Coverage: This coverage pays to repair or replace your personal property up to the dollar limit of your policy. There are certain limits on common items such as cash, business property, jewelry, furs, watches, computers, antiques, and valuable papers.
Loss of Use: This coverage pays for your additional living expenses such as food and rent if you have to temporarily move out of your apartment due to a covered loss. This is usually a limit of the set personal property amount, such as 10% or 20%.
Personal Liability: This coverage protects you against a claim or lawsuit if someone is injured at your residence. This limit often comes in amounts of $100,000, $300,000, or $500,000.

Important Things to Consider

You should look into purchasing higher coverage limits if you have the commonly limited items such as watches, jewelry, and computers. While there is a base limit of coverage on these items, you can increase those base limits on special personal property.

If you have items that exceed even those optional limit increases, you can also purchase a separate jewelry/fine arts policy.

For example, if you own a Rolex that is worth $15,000, but the highest your renters policy will cover even with increased special personal property is $5,000, then you would want to insure more through a separate policy. This would be a scenario where you should purchase a jewelry policy to cover the watch for $15,000.

Renters Insurance Notes

If you are renting, your landlord may require you to have renters insurance with a minimum liability limit.
Renters Insurance does not cover flood insurance. You must purchase a separate flood insurance policy. Please visit our Flood Insurance page for more information.
Renters Insurance also covers items out of your car that are stolen, as well as covering items that are stolen while traveling.
Pay attention to optional coverages on your renters insurance policy. This can include options such as:
- Replacement cost personal property: this will value your contents to replace them, while the normal policy set up will only pay you for what it is worth currently used.
  - For example: You purchased a laptop new for $1000 and is now two years old. Without the replacement cost personal property option, you would be indemnified for what it is currently worth, which is now $500.
- Increased special personal property limits: as mentioned above, if you have certain items that are of extensive value, it is smart to confirm that your policy limits are proper. There are options to increase these limits.
Having a Renters Insurance policy is an AWESOME opportunity to bundle with your auto insurance for a multi-policy discount

For more information about renters insurance, please contact us at TexPro Insurance. We can provide free quotes and consultations, and we look forward to advising your insurance needs!