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Renters insurance coverage offers valuable protection for your belongings when you live in a home, condo, or apartment that you don’t own. This policy type covers your belongings and can even provide you with liability coverage and temporary living expenses if you’re displaced.
While renters insurance isn’t mandatory in Texas, many landlords will require you to buy a policy. Here’s what you need to know while shopping for renters insurance in Texas.
What does renters insurance cover?
Renters insurance provides personal belongings coverage for tenants, or people living in a dwelling they don’t own.1 Renters may assume that their landlord would cover any damages to their personal items if they’re damaged or destroyed, but this isn’t true.
Landlords and homeowners are responsible for any property damage to the building in which you live. But if you want to protect your items, you’re responsible for purchasing renters insurance.
Renters insurance coverage offers financial protection for:
What renters insurance doesn’t cover
Renters insurance protects you, the renter, and your personal interests. But it doesn’t cover the actual building that you rent; that’s the responsibility of the property owner.
Renters insurance doesn’t cover:
Dwellings: The owner’s homeowners insurance policy should cover the house you rent.
Additional structures: The property owner’s insurance will also cover other structures on the property, such as a garage, patio, fence, pool, shed, and more.
Fixtures within the home: Renters insurance doesn’t cover fixtures in the home, such as walls, floors, ceilings, appliances, HVAC systems, or plumbing.
Do Texas renters need flood insurance?
Like homeowners insurance policies, renters insurance coverage only offers financial protection for damages that certain perils cause.2 A covered event may include things like fire, lightning, hail, and smoke damage, but standard insurance generally doesn’t cover flood damage.
Storms, poor drainage, broken sewer lines and water mains, or area construction can cause flooding. If flood water enters the home you’re renting, you may find yourself on the hook for repairing or replacing any of your belongings that get damaged, even if you have a traditional renters insurance policy.
Cost of renters insurance in Texas
Renters insurance costs about $20 per month for a typical renters insurance policy, according to the Texas Department of Insurance. But your cost may vary based on a few different factors, including:
Your location
The deductible you choose
The policy’s selected coverage limits
Your personal claims history
Your credit history
Any discounts you qualify for
You may be able to lock in a lower rate by bundling your renters coverage with an auto insurance policy, for example, or by choosing a higher deductible.
How to choose a renters insurance policy in Texas
You should buy your renters insurance policy before moving into your new place. This protects your belongings against any number of perils.
As you start your search for a new renters insurance policy, follow these steps:
How to file a renters insurance claim
Hopefully you never need to file an insurance claim, but if you do, follow these steps:
Notify your landlord. If your rental home is damaged or destroyed, let the homeowner know as soon as possible. This allows them to also file a homeowners insurance claim, if needed, or at least take steps to mitigate damage and make repairs.
Document everything. Take photos of any damage, write down events, and make a note of any damaged or lost belongings.
File a police report (if applicable). Some losses may require a police report — such as vandalism, burglary, or theft. Your own insurance company may require this police report as part of your claim, so file this in a timely fashion.
Notify your insurance company. As soon as possible, let your insurance company know about the loss; many policies require you to notify it within 24–72 hours.3 It may take a statement from you, send an adjuster, or give you next steps for the claims process.
Submit your losses and any documentation. Depending on the extent and nature of your losses, you may need to provide certain documentation. This could include a list of items damaged or lost, receipts for valuables, statements, and more. Be sure to provide these in a timely fashion to avoid claims delays.
Common renters insurance claims in Texas
Renters insurance policies cover a wide range of losses. Some common claims Texas renters file include those related to:
Vandalism
Theft/burglary
Fire and smoke damage
Lightning and hail
Many renters also file claims for alternative living expenses, such as temporary housing, if the home they’re renting is suddenly inhabitable. In Texas, this could be due to things like storm damage, power outages, sewage backups, or flooding.