For a small amount of money, you can obtain Texas renter’s insurance to help cover your belongings. Based on statistical information, less than half of all those renting their home have insurance on their possessions. Not only does insurance protect your property, but it also serves to protect the property owner in the event of any property damage that occurs.
Most of the time, individual’s will not have enough money to replace all of their belongings in the event of a fire that burns the property down completely. Having Texas renter’s insurance in place provides you with a way to replace all of the items lost in the blaze. Regardless of whether it is a fire, burglary or other catastrophe that strikes, you will have the liability coverage to replace anything that was lost in the process. If there is a disaster that causes you to be dislodged from your home, renter’s insurance helps to cover your living expenses until you can return home.
Even though a basic renter’s policy will cover your personal property, liability, medical payments and loss of use, you can always request an additional layer of coverage for extra necessities that may arise. For example, spoiled refrigerated products from an outage, water damage from a leaking waterbed, liability for your boats and other personal watercraft and professional liability for those in distinct professions are all covered under an addendum to your current policy.
Some renter’s policies allow you to schedule in your jewelry, priceless art and personal computers as part of your renter’s insurance policy. Nothing that is scheduled will have a deductible attached to them. These items will also have a broader level of coverage in the event of a mysterious disappearance. Most of the time, companies will request an appraisal on items that are valued above certain dollar amounts.
In the event someone is injured on your property, renter’s insurance helps to pay for your court costs associated with a claim. Depending on the limitations on your policy, your defense cost, judgment awarded by the court and court costs are all covered by your renter’s policy.