Renters Insurance in Austin, TX provides coverage for the renter’s property and any probable liabilities associated with renting a property. This policy does not cover the structure in the same facility that homeowner’s insurance operates. It only covers possible damage created by the tenant, and their property found within the rental property. This does not include vandalism and other intentional property damage.
Lease Requirements – Rental property owners have the right to request that any tenant that resides within their rental property to acquire renter’s insurance. In most cases where the rental property is managed by a property management company this is almost always a requirement. If this is a requirement stipulated in your lease or rental agreement you should contact your preferred insurance provider to determine the cost for this insurance and acquire coverage. The policy covers the cost of replacing any belongings or valuables that the tenant chooses to place within the property. In the event of a natural disaster, fire, or break-in, the insurance policy provides compensation to the tenant to replace these items. This policy does not cover acts of vandalism that are performed by the tenant. For this reason, the property owner is required to maintain homeowner’s insurance on the property.
Local Insurance Agent – Patrick Court can assist you with your renter’s insurance needs through State Farm Insurance. This full-service insurance provider can accommodate all of your insurance needs to provide coverage for your belongings, and for the property that you choose to rent. It will free you of liabilities associated with natural disasters and damage that may occur over the time frame in which you reside within the property.
Summary – Renters Insurance in Austin, TX is often a requirement for owners of rental property. As a stipulation of the lease, the owner can demand that the tenant secure this insurance to from the owner from liabilities associated with loss of belongings. Typically, homeowner’s insurance will cover damage to the property. However, it will not provide compensation for any property that the tenant chooses to place within the structure. If you wish to learn more about renter’s insurance, you should contact your preferred insurance company promptly to receive a free quote.
