Are You Covered?

Are You Covered?


Understanding Rental Insurance Basics

A renters insurance policy can provide an important safety net for renters in the event they are unable to stay in the rental or should their personal possessions be damaged or stolen.

This is an image of a renters insurance policy on a desk with a pen laying on top of the papers.



What’s Covered?

Typically, renters insurance covers damage from smoke, fire, explosions, theft, vandalism, windstorms, lightning and water damage from internal sources, such as plumbing or intrusion from a neighboring unit.

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What’s NOT Covered?

Renters insurance usually doesn’t cover damage to personal property from natural disasters, such as earthquakes or floods. It doesn’t cover damage from pets.

This is an image of a mother and son sitting on a couch, petting a golden retriever.





In the U.S., the average renters’ annual insurance costs range from $138 to $376.

Two Types of renters Insurance Policies:

Actual Cash Value

Pays to replace possessions, minus an amount for depreciation (the reduction in the value of items due to age and use), up to the limit of the policy

Replacement Cost

Pays the actual cost of replacing possessions (with no deduction for depreciation) up to the limit of the policy.

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This flyer is for informational purposes only and does not constitute financial advice. Your policy may be lower or higher depending on the amount of coverage you request. Always consult your trusted financial or insurance professional about matters related to this subject.

For more information about renters insurance in Texas, click here.







Sources: 1. 2.


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