Those of you who don’t own your home should consider renters insurance in Texas. In some cases your landlord may require you take it out as part of your lease. It is also a good idea because it protects you financially if your possessions are damaged or destroyed by something such as a fire or storm. Your landlord is required to replace the dwelling in its entirety by a certain time, but they are not responsible for the contents of the property such as furniture, clothes, tech, etc. You are most likely required to have renters insurance if you rent from a major property management company.
The Texas Department of Insurance has information on all sorts of renters insurance, as well as the laws that go with it.
Do I Need Renters Insurance in Texas?
You are not required by law to take out renters insurance. While your rental may have certain types of coverage, you may want to know if it covers items such as:
- Personal property coverage – If it pays to repair or replace the items you own that are damaged.
- Loss of use coverage – If it pays your additional living expenses if you cannot reside at your dwelling while is being repaired. Covered expenses include items including rent, meals, and other associated costs.
- Personal liability coverage – If it protects if you or someone else is hurt in your home during the incident. Personal liability may also pays legal fees if the injured party sues you.