Texas state law does not require renters to purchase renters’ insurance. However, many homeowners and rental agencies mandate tenants to buy a policy before signing a rental contract. While this may seem like an added expense—especially if you’re on a tight budget—renters’ insurance can be invaluable in protecting you from unexpected events.
What Does Renters’ Insurance Cover?
Renters’ insurance protects your personal property from various types of damage. Coverage depends on your policy and deductible, but common claims include damage caused by fire, strong winds, smoke, freezes, explosions, and vandalism. Additionally, if your rental home becomes uninhabitable due to damage and you need to move out temporarily, your insurance policy can cover your additional living expenses.
Renters’ insurance also includes liability coverage. This protects you if a third party is injured while visiting or staying with you, covering their medical bills. It also provides coverage for property damage if a visitor’s belongings are lost, stolen, or damaged while on your rental property.
However, renters’ insurance does not cover flood-related damage. Since flooding is a common issue in Arlington, TX, you may want to consider purchasing additional flood insurance, especially if you live in a flood-prone area.
Call InsPeak to Learn More About Renters’ Insurance
Are you planning to rent a home in or around Arlington, TX? Contact our team at InsPeak to learn more about our renters’ insurance policies and policy bundles. We’ll help you explore your coverage options and select the insurance that best fits your needs.
