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Renter's Insurance 101

At Texas Apartment Locating, we want to make sure that our current and future clients are doing everything they can to protect themselves and their belongings in case of an emergency. Renter’s insurance is a group of coverages designed to help protect renters living in a rental house or apartment. Most apartment complexes require residents to have renter’s insurance. A typical renters insurance policy includes three types of coverage that help protect you, your belongings and your living arrangements after a covered loss. Read on to learn how each type of coverage works.

Personal Property: The cost to repair or replace your belongings, such as clothing, furniture and electronics, up to the limits in your policy.

Liability Coverage: Covers repairs if you accidentally damage someone else’s property or even a guest’s medical bills if you’re found responsible for their injuries, up to the limits in your policy.

Additional Living Expenses: Additional costs you incur, like hotel bills, if the residence you rent is damaged and left uninhabitable, up to the limits in your policy.

Renter’s insurance costs vary from company to company and by the level of coverage you choose. The average monthly cost of renter’s insurance is between $5-$30. When you are shopping for renter’s insurance, call around to different insurance companies to get price quotes, find out what coverage they will and won’t cover, and get to know the claims process. Also, check to see if you can get a discount by paying for a year up front or if you already have your car insured through the company, check to see if you can get a bundle deal.

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