Fort Worth Renters Insurance
(Learn how to get the right insurance for you.)
Written by
Financial blogger and business owner, Meg Stefanac, has more than 15 years experience working in the financial services industry and enjoys helping individuals make solid financial decisions. Meg has extensive experience writing about insurance and finances and is a key contributor to TrustedChoice.com.
This city, which began as a small frontier outpost, has become a major metropolitan area with a population of over 600,000 and an array of businesses and industries. Over a fifth of Fort Worth housing is provided by rental apartments, so renters are a major segment of the population.
A recent survey suggests that two-thirds of renters lack any kind of home coverage, even though rental residents keep an average of $20,000 in personal property in the home. You can protect your property with a Fort Worth, TX renters insurance policy.
A Trusted Choice® agent right in Fort Worth can help. These agents are available to help you select a policy and compare competitive renters insurance quotes in Fort Worth. Contact a local agent today, to get the coverage you need at rates you can afford.
Renting in Fort Worth, TX
- Increased risk of theft in rented homes: 50%
- Average worth of renter personal property: $20,000
- Average U.S. rental insurance rate: less than $200 a year
- Local median apartment rent: $559 a month
The amount of rent that you pay each month will not directly affect your rates. Insurers consider the value of your personal property and the risk of other threats before they offer you a price quote.
Before you start shopping for a policy, you might want to take a quick home inventory so you can estimate the replacement value of your possessions. This inventory might include documenting your small appliances, furniture, clothes and anything else you brought into the home. You can even find some free Internet and smartphone applications to help with this task.
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Fort Worth Renters Insurance Discounts
Rental policies are usually fairly cheap when compared to typical homeowners insurance policies. You may be able to qualify for some common discounts that can help you save even more money. Consider these options:
- Billing choices: Your insurer may charge you less if you offer to set up automatic billing or offer to pay in advance.
- Multi-policy discounts: Your insurer may give you a discount for bundling your auto and renters insurance with the same company.
- Fire and burglar alarms: Your insurer may offer you a lower price for things you do to reduce your risks of making claims. You may be able to discuss these options with your landlord as they should help the building’s owner save money too.
What Does Fort Worth Renters Insurance Cover?
Typical policies will include a bundle of different types of renters insurance. You might also be able to add some of these options to increase your policy benefits:
- Personal property insurance: This covers the tenant’s possessions against theft and other covered threats. Common covered items might include your tools, clothes, computers and TV sets.
- Personal liability insurance: This covers you against negligence claims by visitors or landlords. If a visitor or even the landlord claims that your actions or inaction caused damage or an injury, you will have an insurer protecting you.
- Loss of use: This provides compensation in case you have to move out suddenly because a rented home is uninhabitable. The "loss of use" option may provide compensation for temporary housing or even help you find another place to live.
You might also discuss some additional types of coverage with a local agent. Fort Worth participates in the National Flood Insurance Program, which helps residents protect their property against floods. This coverage is not included in typical homeowners or renters policies.
Who Requires Renters Insurance?
Most renters could benefit from the coverage provided in rental policies. These days, many landlords are actually requiring this coverage as part of a lease agreement because it helps protect both the tenant and the owner. If you cannot afford to replace all your personal possessions, handle a lawsuit or quickly move to another home, you might want to consider buying renters insurance.
Find Fort Worth Renters Insurance Quotes
Finding insurance alone can be time consuming and confusing. A local member agent in the Trusted Choice network can make this task simple by offering you coverage suggestions and free insurance quotes to compare.
Contact a member agent today to learn about Fort Worth renters insurance.