Texas Renters Insurance coverage

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Renters Insurance

If you rent a home, condominium, or apartment in the Lone Star State, you most likely have been required by your property management company, property owner, or homeowner’s association to provide proof of renter’s insurance coverage. While Texas does not require renters to carry renter’s insurance, most rental companies do. However, even if your landlord or property manager does not mandate renter’s insurance, it provides protection and coverage every renter needs in the event of an incident that causes a loss.

What Does Renters Insurance Cover?

Renters insurance is designed to fill in the gaps between any insurance coverage your landlord or property management company carries for the actual building and your own personal property and liability. While your landlord carries property insurance to cover potential losses of their buildings, they do not cover your possessions in the event of a fire, theft, or other incidents. A typical renters insurance policy will cover loss or damage to your personal belongings, appliances, electronics, furnishings, art, and jewelry from loss or damage due to a catastrophic event, theft, fire, or water damage. It also typically provides liability protection against injury that occurs on or in your rental property.

Does Renters Insurance Protect Me Outside My Rental Home?

Yes. If a negligent act causes property damage or bodily injury, you’re covered even when you aren’t in your rental premises. For example, if you’re at the grocery store and accidentally drop a gallon of almond milk, and another shopper slips and falls in the puddle, your renter's insurance liability coverage will protect you from excessive medical bills and damage claims.

What Types of Renters Insurance Policies are Available?

There are two different insurance policy forms in TX – the HO-4 and the HO-BT. The HO-BT is unique to the Lone Star State, but it offers broad coverage for liability, personal property, and named perils that is like the HO-4. Ask your Forward Motion Insurance agent which is best for your needs, as there are some instances that a HO-BT would not cover that a HO-4 will. Don’t forget to ask about wind and flood exclusions. While most policies don’t cover flooding on the ground, if a strong wind blew a tree branch through your window and rain caused water damage, that would typically be covered.

The only way your personal possessions are covered after a loss, and you are protected against liability claims is if you have a Texas renters insurance policy in place. Make sure you’re protected by giving Forward Motion Insurance a call today!