While renting an apartment, condo, or home in Houston, TX gives you the flexibility of the neighborhood you want to live in; you need to put renters insurance in your mind. Unfortunately, many tenants don’t remember to purchase renters insurance because they assume that the landlord’s insurance covers them. The reality is that the landlord’s insurance covers their building but not your assets. That said, you need to purchase renters insurance from Insurance Over Texas to protect what you value.
Does Texas require renters insurance?
Although no Texas law requires tenants to buy renters insurance, your landlord may require you to have one before renting their property. Why? Negligence by a tenant can be costly, and worse enough, it affects other people living in the neighborhood. But whether renters insurance is required or not, it’s a worthwhile investment to consider.
What does renters insurance cover?
Standard renters insurance provides the below coverages:
- Personal property coverage: The landlord’s policy covers damages to the building, including perils like water and fire damage. However, the occupants’ belongings aren’t covered when damaged. Fortunately, when you have renters insurance, you can file a claim if your electronics, furniture, and other assets are damaged or lost through fire, theft, vandalism, and so forth. Renters insurance also covers your property when you travel! However, you may need to purchase endorsements to cover your high-value items like cash and jewelry.
- Liability coverage: Whether accidental or not, renters insurance covers tenants for property damage and injuries they cause to other people. Besides, renters insurance covers personal liability for legal claims you might face.
- Loss of use coverage: This coverage pays for additional living expenses (like hotel food and accommodation) when your condo or apartment becomes unlivable due to a covered peril.
Now that you have seen renters insurance is a wise investment, it’s time to purchase one from Insurance Over Texas. Please contact us today or visit our Houston, TX, to chat with our agents.