texas apartment insurance

Texas Apartment Insurance

If you rent an apartment in Texas, any damage to the building by natural or man-made disasters will be covered by your landlord's insurance policy. However, you must seeek coverage for your personal property on your own.Texas apartment insurance covers your personal property and household items in the event of a fire, theft, or other loss. It also offers you financial protection if a visitor is injured in your home.

Texas apartment insurance policies, provide coverage in two ways:

• Pay to repair or replace personal property that is damaged, destroyed, or stolen. Limits on personal property coverage can vary by company, but most offer at least $4,000 worth of protection. Renters policies generally limit payment for certain losses to $100 for lost cash; $2,500 for personal property used for business; $500 for valuable papers; and $500 for theft of jewelry, watches, and furs.
  


• Give you liability protection if you are legally responsible for another person?s injury or property damage. If someone is injured in your home and files a lawsuit, your landlord?s liability policy may not cover the damages. A renters policy automatically provides $25,000 in liability coverage and pays your legal defense costs if you are sued. Extra coverage is available for additional premium.

The Broad Form (HO-BT) covers your personal belongings only for losses caused by events specified in the policy, such as fire and theft. Losses not specified are not covered. Most apartment renters buy this type of policy.

The Comprehensive Form (HO-CT) is an "all risk" policy that protects your personal belongings against every type of event, unless specifically excluded by the policy. Since it covers more risks than the Broad Form, it is more expensive.

The two basic policy forms in Texas are standardized. This means the basic coverages offered by various companies are identical. Endorsements or policy add-ons that give you extra protection at a higher cost vary by company, however.