Renters insurance is required by most property management companies. Generally, the requirement is for $100,000 of liability, though it could be higher at some properties.
Making sure that you budget for renters’ insurance will help protect you in the event that the worst happens. This type of insurance means that in an event of a personal property loss, the costs of it do not have to come out of your pocket. You would be able to buy a replacement item of like kind and quality, helping you get back on your feet faster.
Why Is Texas Renters Insurance Required?
The risk of bad things happening due to negligence increases drastically when you have many people living in proximity. Because of the close quarters in many Texas apartment complexes, a loss like a fire has the potential to affect 20, 50, or more families. Renters insurance liability coverage makes sure that you can cover your renter’s legal liability in Texas and make good on the damage that was done to someone else as a result of your accident.
How Much Does Renters Insurance Cost?
Renters insurance is not a significant expense, and it is worth having for everyone. The average is around fifteen dollars a month for $10,000 of personal property coverage and $100,000 of liability. If you need more coverage than that, you might be looking at twenty dollars a month.