Why You Should Have Renters Insurance in Texas
There are a few reasons why you should have renters insurance. It may be required by property management companies. Many property management companies require renters insurance because negligence increases when many people are living nearby. A loss, such as a fire, can have the potential to affect 20 or more families. This insurance will make sure you can cover your legal liability in the state. Besides it being required, renters insurance can protect you in the event that the worst happens. If you have a loss due to a fire, for example, you could be left with nothing. If you are already on a tight budget, it can be impossible to replace just the basic necessities. Renters insurance will also cover liability outside the home. Your landlord will have insurance, but it won’t cover your liability or your personal property. The only way to make sure that your property is covered after a loss is to have renters insurance.
What You Should Know About Renters Insurance in Texas
There are two different types of renters insurance policies in the state. One provides broad coverage for specific perils, as well as liability protection and protection for personal property. The other form, HO-BT, is unique to the state and will provide similar coverage, but some instances aren’t covered. It’s also necessary to understand flood and wind exclusion. No renters insurance policy will cover flooding, but some also won’t cover wind damages. Speak with an agent at Wester Insurance Agency to understand any exclusions for your specific plan.
Policies will differ with actual cash value or replacement cost coverage. The actual cash value will pay out the original cost of the item but takes into account depreciation. Replacement cost coverage will pay to replace your property at the current expenses. If you have replacement costs, then you can get a new TV just like your old one, even if the price is higher.
Contact Wester Insurance Agency to get a quote on renters insurance. Our agents are ready to answer your questions and get you started.