Click to Call
InsPeak

805 Washington Dr, Suite A2
Arlington, TX 76011

Get Directions

Texas Insurance Blog

3 Common Risks For Renters

Renting your home comes with a lot of perks. You can let someone else worry about property insurance and taxes, as well as many major maintenance jobs. However, there are some risks involved with renting. At InsPeak we are all about educating our clients and future clients in Arlington, TX on their insurance needs. Let’s look at 3 common risks for renters. 

Burglary 

If you are a victim of a burglary in your rented home or apartment, you will be responsible to pay for any property of yours that is lost or damaged. The property insurance held by your landlord will not cover your personal belongings. 

Fire

During a fire, the renter’s personal property will not be replaced or reimbursed by the landlord. The only thing covered under the landlord’s property insurance will be the property that they own. 

Natural Disaster

During a natural disaster such as a tornado, earthquake, or hurricane, any of your personal belongings damaged or lost will not be covered by the landlord’s insurance. 

What Can Renter’s Do?

If you rent your home, you should consider renter’s insurance. This type of insurance policy will protect your personal belongings in the event there is a burglary, fire, or natural disaster. 

You can talk with an insurance representative to learn about how much renter insurance you will need. This amount is often based on the value of your personal belongings. The representative will be able to help you assess the value of your possessions in order to create the appropriate policy for you. 

If you would like to learn more about our services, or if you are interested in renter’s insurance products, please contact us at InsPeak serving Arlington, TX and the surrounding areas. 

5 Things To Know Before Saying No To Renters Insurance

One of the first things a new home buyer gets is insurance. Yet, when someone rents, it is often an expense that is pushed down the list of priorities. According to renter insurance statistics, only about 37% of renters have renter insurance including those in Arlington, TX.

What happens if your apartment catches fire or the sewer backs up and damages everything? The landlord is not going to be responsible for replacing your items. To go without renters insurance is taking a huge risk.

Before you fall into taking a chance with no insurance coverage, here are 5 things the experts at InsPeak want you to know before saying no to renters insurance.

  1. One of the most important parts of renter insurance is that it covers what your landlord’s insurance doesn’t, like damage to your personal property.
  2. You own more than you realize, and it’s worth more than most can afford to replace. Many people don’t realize how much their things are worth. It’s as if they are looking at what they own and calculating what these items would fetch at a garage sale. The truth is that your items are not like a car that depreciates in value the second you drive it off of the lot. Renters insurance looks at how much it would cost to replace these items, not what they are worth at a resale shop.
  3. Renter Insurance is more affordable than you think.
  4. Renter Insurance Also covers a guest getting injured on your property.
  5. It also may even reimburse you for food costs or temporary housing if your apartment is uninhabitable for a while.

Call InsPeak serving Arlington, TX today to discuss your renter insurance questions. It will probably take no more than 15 minutes of your time but could save you a bundle.

Why do I need renters insurance

When you are a renter, you may wonder why you need renters insurance. It is surprising how many renters think landlords have insurance that covers their home and all their possessions. Your landlord undoubtedly has insurance, but it is to protect their building, not anything that belongs to you. At InsPeak in Arlington, TX, we are dedicated to providing our customers the best possible insurance experience. 

You may need to have renters insurance because you may be required to have it by your landlord or management company. The reality is having renters insurance is a good thing, and you should not feel it is a bad thing to be forced to get it. It is reasonably priced and offers some very valuable protection. 

Contents coverage

Whether you are renting a one-room apartment or a 10 room house, chances are you have a lot more possessions than you realize. In the event of some peril striking your rental, the potential is there for you to lose everything you own. Try to imagine having to replace all of your clothing, furniture, dishes, appliances, and electronics. And having to pay for all of it yourself. It is a pretty scary prospect. If you have renters insurance, you will replace your things and get on with your life. 

Where will you stay

If your rental were damaged or destroyed, you would not have anywhere to stay. If you have rental insurance, you will be able to stay in a hotel in the immediate time after a covered peril, and then if it will be a while until you can move back in, a temporary rental can be found. 

Liability insurance

Anyone can get sued, and if you do, this insurance will help you pay legal fees and a judgment against you. 

Contact InsPeak in Arlington, TX for all your rental insurance needs. 

Partner Carriers

  • ACCC
  • Alinsco
  • All Risks
  • Gainsco
  • Hiscox
  • Infinity
  • Kemper
  • Progressive