Keeping your personal property safe from fire, water, wind, and theft isn’t always in your power. Luckily, your ability to make sure they’re insured is. If you have questions about Texas renters insurance you have come to the right spot. We’ve researched the average cost, discounts available, and more to give you the inside scoop.
Average Renters Insurance Cost in Texas
The average two-bedroom in Texas costs roughly $864 a month, while the average Texas renters insurance policy costs only $228 annually. To put that into perspective–based on the Texas minimum wage of $7.25, you would only have to work 31 hours for the whole year to pay for your rental insurance premium. And since your house is home to jewelry, electronics, computers, furniture, and many more valuables, the annual cost of renters insurance is in most cases much less than the cost of replacing just one of your belongings.
Texas Rental Insurance Coverage
Texas reported 951,246 burglaries in 2012. With a Texas renters insurance policy, you’ll have peace on mind knowing that if you fall victim to a home break-in, your belongings may be covered and replaced–often at full value.
In addition, if your property is damaged or destroyed by fire, smoke damage, water damage (not flood), and other weather related events, your renters insurance should cover the damage done to help alleviate any additional financial stress. Having more than the minimum liability coverage is always a good idea. You might also want to consider adding on personal property coverage to your renters policy. Also, ask your local renters insurance companies about any extra coverage they offer.
See What Renters Insurance Discounts Apply in Texas
For any insurance policy, you will be assessed based on risk factors. Some of those include prior claims history, the location of your rental, and even how many valuables you own. While renters insurance is already more affordable compared to other types of policies, you can still save with Texas renters insurance discounts:
- Multi-policy: If you combine more than one policy with an insurance company, they’ll cut you a deal.
- Higher deductibles: The more you’re willing to potentially pay out of pocket, the more you can save on your annual Texas renters insurance premium.
- Safety features: If you have smoke alarms or anti-theft installations, you can save.
- A clean record: If you haven’t filed a claim previously, you won’t be charged extra.
Texas Renters Statistics
Of all Texas residents, about 37% are renters. And although Texas renters insurance is 22% higher than the national average, it’s still a relatively cheap policy for all that it covers.
If you’re considering purchasing renters insurance, actively shopping for a cheap rental insurance quote, or just have some questions you’d like answered, call a licensed agent at [mapi-phone-link /]. They will be able to assist you with any renters insurance need you may have.
Going with the cheapest option isn’t always the best. Before making any final decisions on your insurance company, it is important to learn as much as you can about your local insurance providers, and the coverages they offer. Make sure you know your coverage limit as well. Call your local insurance agent to clear up any questions that you might have. Questions to consider asking include, “What is the best coverage plan for me/my family/my situation?” “What are the minimum coverage requirements in my state and what form of coverage do you recommend?” “Do you guys offer any bundle discounts if I take out both my auto insurance and home insurance with you?” and “What is the average rate of insurance quotes you guys offer?”
Before making any big insurance decisions, use our free tool to find the best renters insurance quote near you. It’s simple, just plug in your zip code and we’ll do the rest!