Renter’s Insurance

‘Personal property’ coverage makes sure your personal belongings are protected, whether you’re relaxing at your apartment or off traipsing across Europe. So if your living room furniture is ruined due to water damage from that burst pipe, or your phone is stolen while you’re taking a vacation, your renters insurance policy has your back to assist you with the replacement cost.

How much does renters insurance generally cost in Texas?

Renters insurance in Texas can cost as little as $22 a month (or $270 per year) for around $35,000 in coverage, according to a 2021 report (the most recent data available) by the National Association of Insurance Commissioners (NAIC). Keep in mind that insurance premiums in most states have changed since then. Also, your cost may be different depending on things like how much personal property you want to cover, what deductible you choose and risks specific to your location.

No state laws require you to have renters insurance in Texas. However, landlords can require you to have a renters policy as part of a lease agreement. It may help pay for another person’s medical bills or repairs to their property if you’re found legally responsible for their injuries or property damage. Renters liability coverage may also help cover your legal expenses if you’re sued over an incident that occurs in the place you’re renting. Keep in mind that your landlord’s insurance provides coverage for the building itself, but this likely does not include your personal belongings.