Renters Insurance Information
If you are renting a home, you’ll want to consider getting renters insurance. Recovering from damage costs related to aspects like your possessions inside the home you’re renting can be expensive to recover from. Having a renters insurance policy can help reduce out-of-pocket costs related to damage or recovery.
What is renters insurance?
Renters insurance is a contract between you and your insurer in which you pay a premium in exchange for financial assistance following accidents like fire damage or other potential household incidents. In general, the more you pay for your insurance premium, the more financial assistance your insurer will provide you following an accident.
What does renters insurance cover?
Renters insurance differs from homeowners coverage in that it does not offer coverage of the structure since the tenant does not own the home. Most renters policies typically include:
Who needs renters insurance?
These plans can be further tailored with specialized benefits like:
Typically, tenants need renters insurance, as they are staying in a home or dwelling that they do not own. Landlords usually require their renters to purchase policies because, in doing so, the renter reduces the landlord’s liability for accidents or losses that occur in the home.
Is renters insurance expensive?
Multiple factors will influence the cost of your renters insurance, such as:
If you live near Lubbock, Texas, we can help you out. The agents at Lone Star Insurance Group are determined to assist you in learning more about renters insurance policies so that you can make an educated decision on coverage for you and the dwelling you’re renting.
Reach out today at 833-367-5744 to learn more about your coverage options.