Do Landlords Require Renters Insurance in Texas?
No matter who you are, where you are from, or what you do for a living, an accident or unexpected disaster can strike at any moment. While no one can predict when these events will happen, people can be prepared for the possibility of something happening and the effects of such an occurrence.
One of the best ways to be prepared is to invest in the right kind of insurance for your property. When you are renting a home or apartment, it is best to have a full coverage renters insurance policy that keeps you, your family, and your belongings safe. In Texas, your landlord can also most certainly require that tenants consistently carry renters insurance as part of their lease.
What Is Renters Insurance?
Much like other forms of insurance such as car insurance or homeowners insurance, renters insurance is an affordable way to protect yourself, your family, and your most precious belongings from damage and injuries resulting from an unexpected disaster or accident. It covers furniture, clothes, appliances, electronics, and many other insurable items if they are stolen or damaged, and it can also provide coverage for injuries that occur at your home or apartment, lawsuits and legal fees in the case that someone sues you, and even hotel expenses if repairs to your home force you to relocate temporarily.
Renters insurance coverage is quite dependable but also very affordable. Discounts may also be available if you have certain extra security and safety items in your home such as smoke alarms, sprinkler systems, or home security systems. Some insurance carriers will also offer a discount when you carry more than one type of insurance policy with them such as bundling renters insurance with car insurance.
Can Landlords Require Tenants to Carry Renters Insurance in Texas?
In the state of Texas, landlords can require their tenants to carry renters insurance on their home or apartment. Renters insurance protects the landlord from tenant negligence and ensures that you can pay for repairs for any damage to the property if you were the cause of the event that resulted in the damages.
When it comes to the average amount of coverage in a typical renters insurance policy, most renters in Texas will have coverage of about $100,000 in liability. That is a lot of money to pay out of pocket for most people, so renters must maintain an insurance policy that protects both them and the landlord’s property.
Why Renters Insurance Is a Smart Investment
Not only is renters insurance something that landlords are very likely to require for any tenant in the state of Texas, but it is also a wise investment for any renter. If something unexpected should happen that damages your belongings and causes damage to the structure you are occupying, renters insurance is a great way to ensure that you will be reimbursed for your losses and your landlord’s expenses will also be covered. It is also important to remember that your landlord’s insurance policy will likely not cover your belongings even though you are living on his or her property.
Another important reason to carry full coverage renters insurance is if you live with any roommates. If you and your roommates are all on the lease, the damages done by one of you will be the responsibility of everyone involved, especially if the truly responsible party is unwilling or unable to pay. If, for instance, your roommate starts a fire and burns the entire home or apartment to the ground, you must remember that your name is also on the lease. If the responsible roommate can’t or will not pay for the damage, your renter’s insurance policy will cover the damages, at least in part depending on the specific policy, so that you are not liable to be sued by your landlord.
Contact Our Texas Renters Insurance Professionals
Whether you live in a rented apartment, home, or condominium, you need to protect yourself and your belongings from the unexpected. Because your landlord’s insurance policy doesn’t cover your belongings, having renters insurance is a smart choice for safeguarding yourself in the event of theft, hurricanes, sewer backup damage, and more. Your landlord will also likely require you to carry your insurance in addition to the insurance he or she has on the property.
For over 22 years, the Thumann Insurance Agency has offered superior coverage at the most competitive prices. We proudly serve the Dallas-Fort Worth community and all of Texas from our North Dallas office. As a leading family-owned Independent Insurance Broker we represent over 80 of the nations’ leading insurance carriers, putting us in the position to find the best price, coverage, and service combination that suits your personal needs. Contact the Thumann Insurance Agency at (972) 991-9100 for more information on our renter’s insurance options and to get a free quote for your home or apartment.