Dallas Renters Insurance
(Learn how to find the right renters 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.
The latest census reported that thirty-nine percent of “Big D” housing is provided by rental apartments. However, one recent study reports that only about a third of U.S. renters have purchased coverage for their rented homes. If you lack coverage, you can find affordable Dallas, TX renters insurance from an independent agent.
An independent agent in the Trusted Choice® network can assist you from an office right in your area. These member agents can help you select the right coverage and compare multiple Dallas renters insurance quotes. Find an independent agent today for competitive rate quotes and personal service.
Dallas Renters Insurance Costs and Facts:
- Value of the average renter's personal property: $20,000
- Increased risk of theft for occupants of rented homes: 50%
- Average U.S. rental insurance rates are less than $200 a year
- Increased risk of theft in rented homes: 50%
- Local median apartment rent: $623 a month
- Rate of apartment renters in Texas: 14%
- Rate of apartment renters in Dallas: 39%
Even though rental insurance policies are usually much cheaper than other types of home policies, your own rates will be determined by your home ZIP code, coverage amount, policy options and other factors. Insurers all have their own rate schedules; this is the reason why shopping around can be an effective way to save money.
Before you start shopping, take a home inventory so you know how much insurance to buy. Otherwise, it might be difficult to know the replacement value of your furniture, jewelry, computers and other items. You can even find smart phone and computer applications that can help you with this task.
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Can You Find Cheaper Dallas Renters Insurance?
Renters insurance is usually much cheaper than other types of home polices. This is because a renter does not need to cover an actual building, just personal belongings. You might even be able to save more money by looking for rental policy discounts.
- Home safety systems: If your rented home does not already include burglar and fire alarms, see if your landlord would be interested in installing them. By doing so, landlords may also be able to save money on their own coverage.
- Billing choices: If you agree to pay for six months to a year in advance, or to set up automatic charges, you may be offered small discounts.
- Multi-Policy discounts: Many insurers offer bundling discounts. For example, you might insure your auto with the same insurer that offers your renters policy, and thus earn a rate reduction.
What Are the Types of Dallas Renters Insurance Coverage?
As you shop around, you may notice that many plans offer similar coverage. Consider these typical coverage types and policy options:
- Liability insurance: A visitor might claim that your actions, negligence or even your dog caused them an injury or property damage. This type of insurance can help you pay damages or even defend you.
- Personal property: This type of coverage insures the belongings that you bring into your home. Consider the value of your music collection, audio system, laptop and furniture.
- Relocation assistance: If your home becomes damaged for a covered reason, you may have to move out quickly. This relocation assistance can help you find another place to live.
In addition to basic coverage, you may also need to consider additional insurance to cover excluded hazards. Flood insurance is one example of tenant coverage for an excluded event. You can speak with a local agent about what your policy covers and how to purchase additional insurance.
Who Needs To Purchase Dallas Renters Insurance?
Renters insurance can provide affordable coverage for your belongings. Without it, you could risk losing your belongings and having to replace them all out of pocket. If you face a liability lawsuit and don't have insurance protection, other assets could even be at risk. Many landlords actually require renters insurance as part of a lease agreement because these polices can help protect both the renter and the property owner.
How To Find Dallas Renters Insurance Quotes
Finding the best renters policy does not have to be confusing or time-consuming. A local independent agent in the Trusted Choice network can help you choose good coverage and compare prices. Contact one of these member agents for more information about Dallas renters insurance prices and plans.