If you live in a property that you rent, it's a good idea to invest in renter's insurance. At Texas Independent Insurance, we offer renters insurance policies to those all around the state of Texas.
Although renter's insurance is not required by state law, a lot of landlords require that their tenants invest in renter's insurance. Landlords do this so that they will not be held liable for damages to their tenants' possessions. If you're a Texas renter whose landlord requires insurance, you need to learn as much as you can about this insurance product. You also need to shop around to find the best policy for your needs.
A renter's insurance policy in the state will usually offer up to $100,000 in liability coverage. This is a lot of coverage considering the fact that renters' insurance premiums tend to be reasonably low. Renters insurance offers several types of coverage in addition to liability coverage. Renters insurance policies also generally include coverage for personal property and loss of use of the rental property.
A typical renters insurance policy will provide actual cash value coverage. This means that the policy will cover the policyholder for the original value of their possessions minus any depreciation. However, some renter's insurance policies offer replacement cost coverage. Those who are purchasing renter's insurance should understand the distinction between actual cash value coverage and replacement cost coverage.
When you invest in renter's insurance, you should inventory the items you own in your rented property that you should be eligible for coverage on. In addition to basic renter's insurance policy coverage, you might want to invest in add-on coverage, including added coverage for expensive items or coverage for natural disaster damage.
You can meet your renter's insurance needs with a policy from Texas Independent Insurance. Contact our team with your inquiries to learn more about the renter's insurance policies that we offer.