Things to Know About Renters Insurance

Things to Know About Renters Insurance

While most homeowners have insurance policies to cover the property you’ll be living in, as a tenant it’s important to protect your personal possessions.  Replacing your furniture, clothing, and possessions will cost you more than you realize and you may believe that your landlord’s insurance will cover it, but there are things to know about Renters Insurance that will help you in the long run.

Is Renters Insurance Expensive?

There are policies that are relatively inexpensive depending on your coverage.  For example, replacement cost coverage may cost more than actual cash value coverage.  According to a recent Insurance Information Institute conducted by ORC International the average yearly premium for renters in Texas is $247.

Why Should I get Renters Insurance? 

You landlord’s insurance policy covers the building structure but usually does not cover your personal possessions.  A renters insurance policy will cover items like your furniture, clothing, and personal items.   Your landlord’s policy also may not protect you against damage you may inadvertently cause to the property.

Can I Get Discounts for Certain Features in the Home?

Yes.  Many insurance companies will lower your premium for certain features in the home (security systems, fire extinguishers, deadbolts, etc).  You may also want to check with an insurance company you already have a policy with to see if you can get a bundle discount rate for adding renters insurance.


As a renter, you may not be aware of what is covered and what is not covered by your landlord’s insurance policy.  It’s a good idea to look into RENTERS INSURANCE.  For the cost of going to the movies, you can cover your personal belongings on a monthly basis and have peace of mind.

Posted by: tcppropertygroup on July 19, 2016
Posted in: Blog, Leasing, Tenants