In 2014, the average cost of cheap renters insurance Texas was $224 a year, compared to the national average of $184. While this may seem like an unnecessary expense, there’s a good reason Texas has the highest insurance rates in the United States. Despite being a great place to live, the state often suffers from a wide variety of severe weather, including hail storms, tornadoes, high winds, and wildfires caused by drought. Any one of these natural disasters can lead to significant damages for renters and homeowners alike.

Natural disaster is not the only reason to consider renters insurance in Texas, however; this type of insurance policy can also protect you against theft, liability, loss of use, and more.

Renters Insurance in Texas is Often Required

Depending on where you rent, you may be required to carry a renters insurance policy. Most major property management companies in Texas require you have renters insurance to rent an apartment. This is because an insurance policy will give the landlord assurance that the property will be repaired if you cause damage or if you’re negligent. It’s all about liability, as landlords want to ensure that if a tenant causes damage or someone gets hurt in the property, it won’t be the landlord’s responsibility. Renters insurance in Texas is one of the easiest and most affordable ways to shift this liability onto the tenant. Many leases will also have a clause that negate your landlord’s liability for incidents like theft or an injury to a guest visiting your home.

Landlords have the right to require renters insurance in Texas, so it’s important to read your lease carefully. A landlord can not only require renters insurance but also specify a minimum amount of coverage for personal property and liability if they wish.

Renters Insurance in Texas Protects Against Theft

If your home or apartment is burglarized, your landlord will not be responsible for anything that is stolen, as long as they were not legally responsible for the break-in due to inadequate security on the property. Renters insurance in Texas offers protection for your stolen belongings as long as they are listed on your police and within your coverage limits. If you have valuables that aren’t covered by a standard policy, you can purchase additional coverage.

Protect Yourself Against Natural Disaster

Texas and Oklahoma lead the nation in the costliest natural disasters. In 2013, natural disaster-related insurance claims payouts hit $1.51 billion in Texas. If you are renting an apartment, do not assume your personal property is protected by your landlord’s insurance. Renters insurance in Texas is especially important given the damage a tornado, fire, or hail can do to your property and vehicle.

Renters insurance in Texas will protect you against most forms of natural disaster, but be aware that some coverage options are add-on coverage. This usually includes hurricanes and floods. It can be tricky to find renters insurance in Texas that covers wind damage. If you live in a coastal area of Texas, make sure you understand what types of disasters are excluded.

Renters Insurance in Texas Covers Liability

While you may think you won’t need it, accidents happen every day. If someone slips and falls, gets bitten by your dog, or gets hurt in your apartment, you may be liable for medical bills and other costs if they pursue you for negligence. Renters insurance in Texas can protect you by covering medical expenses and damages, and even assist with your defense.

Insurance Can Cover Damage to the Property

Even if you are very responsible and take care of your rental property, you may be on the hook for damages if you accidentally break a window and rain damages furniture, or if a backed-up toilet floods the bathroom. Renters insurance in Texas can help cover the costs of repairing and replacing belongings.

You may also choose additional coverage options to further protect you, including sewage drain damage if the sewer backs up and values your belongings. You can even be protected against the loss of use of your apartment if it’s damaged beyond repair. In this case, renters insurance in Texas can cover the cost of a hotel, meals, and living expenses you incur up to your coverage amount.

Texas has the third highest rate of renting households in the country. Unfortunately, only 37% have renters insurance in Texas. If you cannot afford to replace everything you own, it’s important to look into buying a policy that protects you against risk. While renters insurance in Texas is among the highest in the United States, it’s still just $19 per month on average, which is a small price to pay for peace of mind.

One of the most significant challenges that consumers face when purchasing cheap renters insurance Texas is the fact that they fail to take the time to gain a lucid perspicacity of the policy that they are purchasing, only to find out later that there are certain hazards that are simply not covered under their specific policy. Renters insurance in Texas is designed to help individuals recover after a loss of some kind, which can include damage caused by natural disasters, theft and vandalism; however, there are those instances in which Renters insurance in Texas falls short.

As with virtually anything in the world, renters insurance in Texas has its limits. The problem is that most people don’t invest the time and effort to determine what those limitations are, making the erroneous postulation that their policy will cover any type of damage. There are a significant percentage of renters that are not aware that general renters insurance in Texas will not cover flooding. This is extremely important in a state like Texas, where flooding is a prevalent issue. A recent Bankrate survey revealed that nearly 20 percent of renters are unaware that flood protection has to be secured through a separate policy from their renters insurance in Texas. There are a number of other risks that are not covered under the general renters insurance in Texas. Four of these risks that are worth noting are listed below.

Mold Infestation

One area in which coverage is either limited or non-existent with renters insurance in Texas is with damage caused by the existence of mold. There are more than 1,000 species of mold that is common in the U.S. and with the humidity in Texas, mold is a considerable and consistent issue for renters and homeowners. When the property damage and the health issues are weighed, a mold infestation can be devastating. Despite the prevalence of mold in Texas, the standard renters insurance in Texas either significantly limits mold coverage or completely excludes it all together. There are some insurers that will offer their customers the option of adding an endorsement to their renters insurance in Texas that will expand the coverage limits that apply to mold damage, but this requires the customer to pay higher premiums.

Sewer Backup

Sewer backups are becoming an increasingly serious issue, as the sewer lines in Texas are rapidly aging, with many of these lines being more than 100 years old. As more homes and apartment buildings are added to these aging and overworked sewer lines, sewer backup is the result. There are other sources of backup as well, which include multipurpose pipelines, tree root blockages and more.

Whenever a sewer line backs up into a home or apartment, it can cause significant damage to the residence, damaging floors, walls and electrical systems. Additionally, sewage backup can be a substantial health risk as well.

Standard renters insurance in Texas does not cover sewer backups. Much like the mold issue, many insurance companies will offer added coverage that would include sewer backup, but it will come at an increase cost in monthly premiums; however, the increase in cost in generally not too expensive, averaging between $40.00 and $50.00 per year.

Sinkholes

Another area in which standard renters insurance in Texas is lacking is with sinkholes. Sinkholes are actually more common that most people are aware of. Additionally, large sinkholes can cause immeasurable damage. There is actually an extreme story in which a man in Florida was completely swallowed up in 2013 when a sizable sinkhole unexpectedly opened up underneath his bedroom.

Sinkholes are gaps in the earth’s surface that result from the erosion of rocks, such as limestone, creating large cracks and pores in the bedrock. These gaps will often result in the land above the gab collapsing, creating a sinkhole. The occurrences of sinkholes are becoming more frequent with each passing year.

As a general rule, renters insurance in Texas will not cover damage caused by sinkholes. Florida and Tennessee are the only two states in which there are specific revisions in the state law that requires a certain level of coverage for sinkholes. Although Texas does not require this coverage, renters and homeowners should definitely give serious consideration to adding it to their policy.

Termite Infestation

With the damage that termite infestation can cause, it is important for Texas renters to understand what their policies indicate when it comes to termite infestation. When it comes to home damage, as little as several hundred to several million termites have the capacity to systematically and methodically devastate the structure of a home.

Termites have the capacity to perform a stealth entry into the home through a number of different avenues, and once they are inside the structure, if they are not stopped, they will multiply, and they will systematically destroy the home.

The standard renters insurance in Texas does not cover damage caused by termites. The best solution to this problem is early intervention. Having a licensed pest control technician come out to treat the home is the best way to engage this issue. In many cases, the landlord will cover the cost.

When purchasing renters insurance in Texas, it is important to make sure that all terms of the policy are clearly understood. If adequate coverage is not a part of the standard policy, consider taking the steps necessary to add the coverage.

Renters insurance in Texas covers a wide range of needs for renters and rental property owners. You may not understands the ins and outs of a renters policy, but all the information is listed below for you. You must purchase renters insurance in Texas to protect yourself or your property from damage and loss. Understand what your landlord does not have to do for you when you move into your apartment, house or condo. Learn what landlords must do for themselves, and plan your policy accordingly.

Renters Insurance In Texas Coverage

The coverage you get from renters insurance in Texas is different from the insurance your landlord has on the property. Your insurance policy covers your personal belongings, medical expenses and big ticket items. Renters insurance in Texas helps you receive coverage for everything you bring into the unit. What you are providing to make the space livable is covered by your insurance policy, and renters insurance in Texas only works if you choose to invest the moment you sign your lease.

What Your Landlord Gets

Your landlord needs their own renters insurance in Texas to protect their property. A traditional policy is used to protect the structure, but renters insurance in Texas for landlords will protect against damage caused by tenants and their guests. The damage that is done in your unit is your responsibility, but the landlord’s policy will pay for the damage into your landlord’s pocket.

What Your Landlord Does Not Owe You

Renters insurance in Texas is something your landlord assumes you will have. Your landlord does not owe you a policy, and your landlord should not use their insurance settlements to pay for your damages. Any landlord who discovers that you do not have renters insurance in Texas may be concerned that you will not take good care of the property, and you must respond to your landlord by purchasing renters insurance in Texas.

Filing A Claim

You files claims with your renters insurance company as you would with any other company. Your claims will be adjusted by an insurance agent in the field, and the insurance company will send a check when they have completed their investigation. Every claim you file with the insurance company raises the risk that your premium will rise, but you must file claims to recover the money lost in a fire, flood or during a burglary.

Special Items

Your apartment, condo or home may contain special items that are extremely valuable. These items cannot be paid for through the original value of your policy, but the insurance company will let you add riders to your policy to pay for expensive items. Each rider will have a set value, and you use the rider to file claim on the items if they are lost, stolen or destroyed.

The total value of your policy must be used for your personal belongings and repairs, but the riders on your policy pay for special items you have collected over the years. You must not ignore this part of a renters policy if you own musical instruments, expensive computer equipment or collectible art.

How Much Does It Cost?

Renters insurance in Texas is an inexpensive way of protecting yourself when you live in a rental property. You pay a small premium every month based on the value of your personal belongings and the property. You may set up rental policies that cover every rental property you use, and the payments can be deducted directly from your checking account.

Managing the protection of your personal belongings is much cheaper when you call in an insurance company to help you. Renters insurance in Texas is not expensive, and you have no excuse to avoid purchasing a policy today.

How Long Does It Last?

The typical renters insurance in Texas will last for one year. You may renew the policy every time you sign your lease, and the policy may be cancelled when you move to a home you purchased. Landlords may follow the same schedule, and they payments are deducted in the same manner as their tenants.

You must have renters insurance in Texas to protect yourself against loss or theft in your rented home. The landlord has their own insurance policy, but that policy does nothing for you. You need to take charge of your life by purchasing a renters policy today. The coverage will help protect your personal belongings while you rent from your landlord every month.