Although you’ll only need renters insurance if your landlord mandates it, you should strongly consider having coverage regardless of your landlord’s decision. More and more landlords require tenants to show proof of a renters insurance policy before renting the house or apartment because it limits their liability exposure. 

Renters’ insurance policies typically cover several areas, including:

• Personal Property Damage: If your belongings, including electronics, furniture, and clothes, are damaged in a covered incident, your insurance company will cover the cost of repairs or replacement up to your policy’s limits.
• Personal Liability: Similar to your auto insurance policy, the liability component of your renter’s insurance reduces your exposure if there is an accident involving a third party at your residence.
• Loss of Use: If you can no longer live in your rental because of a covered incident, your renter’s insurance will include assistance to pay for another place.

One often overlooked benefit of renters insurance is that the coverage continues even if you are on vacation or out of town when a covered incident occurs, providing needed peace of mind. For more information or to customize a renters insurance policy to your exact needs, give the team at Thompson Insurance Services a call. Our conveniently located office in Highland Village, TX offers a welcoming environment to meet with one of our knowledgeable insurance professionals. We’ll help answer any questions about renters insurance and ensure that any policy you purchase will provide you with the coverage you need. Give us a call today to schedule a no-obligation consultation.