Protect Your Valuables
Renters insurance in Austin, TX is like home insurance for the apartment, condo or house you rent. The policy can be purchased by renters on its own, or as part of an auto insurance bundle with many insurance companies to help save money.

If you are a renter, worry less about potential hazards and risks that threaten your personal property. Don’t wait to get coverage from renters insurance. Owners and managers can obtain a policy for landlord protection on their investment in building and liability as well.

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What is Renters Insurance?

Renters insurance is financial coverage for the property or belongings of a person who is renting or leasing a dwelling and his or her landlord. It’s for more than just apartment dwellers – renters insurance extends to those living in houses, condos, duplexes, and townhomes as well. The coverage provided by renters insurance is required by many property owners and leasing agents before a potential renter can sign into a rental contract.

Management companies and property owners keep detailed logs of information on their tenants insurance coverage. Most landlords are well aware of when your policy ends, and most contracts contain clauses that allow for landlords to take action if you fail to renew your policy.

What Does Renters Insurance Cover?

Renters insurance helps protect the renter and landlord.

For the renter, insurance can include coverage for personal property, clothing, and furniture in the event that theft, fire, or tornado damages or destroys these personal belongings. For the landlord, renters’ insurance helps ensure that if the property is damaged by a renter, the liability or recovery may be subsidized by insurance.

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There are 3 Common Types of Coverage:
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Personal Liability

Liability insurance for renters protects landlords from damage caused by tenants. If a tenant damages the property of the owner or manager, that owner can file a claim with the renter’s insurance company.

Following investigation, the renter’s insurance company pays for damage done by the tenant. This type of coverage does not insure structural damage to a residence due to accident or natural disaster. Instead, it is the responsibility of the homeowner to buy homeowners insurance for structural protection.

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Personal Property

The biggest benefit for renters is personal property coverage, which insures belongings such as furniture, appliances, and clothing. Items that are stored inside are given a monetary value that drives the cost of a renters’ insurance premium.

The total value of belongings is paid by the insurance company in the event of a disaster.

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Loss of Use

Any living expenses incurred by the renter during a time in which the renter is removed from his or her home due to property damage or destruction are protected under Loss of Use.

Living expenses are considered necessary expenses to guarantee that the insured is fed, clothed, and sheltered.

Is Renters Insurance Worth It?

Yes, renters insurance is not only worth it, it is sometimes required by property owners and managers. Premiums for renters insurance are incredibly affordable, even for large amounts of personal property. The claims process is also simple as long as both tenant and landlord have the required information. Stay prepared for when the unexpected strikes with photographs of your personal property as well as detailed information regarding damage and claims.

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The agents at Britton & Britton know how to get you superior coverage with renters insurance at a low cost. Talk to your local Britton & Britton agent today to learn how you can get renters insurance coverage for Austin and all of Texas!