El Paso 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.
Almost a fifth of all housing units in this large west Texas border city is made up of rented apartments, yet a recent news report says that only about one third of renters have insurance for their homes. Learn more about this important coverage and how to find the right El Paso, TX renters insurance for your needs.
Local independent member agents in the Trusted Choice® network have offices right in the city. These agents can answer your questions and help you compare El Paso renters insurance quotes from a variety of insurers. Contact one of these member agents right away for competitive prices and the right coverage.
Local Renters Costs and Facts
- Average U.S. rental insurance rates are less than $200 a year
- Local median rent: $474 a month
- Rate of apartment renters in Texas: 14%
- Local rate of apartment renters: 17%
- Increased risk of theft in rented homes: 50%
- The average renter owns $20,000 worth of personal property
Average rental rates in this city are somewhat lower than rates in other major Texas cities. It's a good idea to consider the value of your personal possessions when you select coverage amounts. It may be a good time to take a home inventory of your electronics, appliances, furniture, clothes and jewelry in order to estimate the cost of replacing them. The home inventory will also help you determine how much El Paso renters insurance you need.
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Rental Policy Discounts
Lots of renters are eligible for El Paso renters insurance discounts, too. When you are shopping for competitive policies, you may find companies that will offer you discounted rates, possibly saving you hundreds of dollars over time.
- Fire and burglar alarms: Insurers may offer you a lower price for things you do to reduce your risks of making claims.
- Billing choices: You may be charged less if you offer to set up automatic billing or pay in advance.
- Multi-policy discounts: You may get a discount for bundling your auto and renters insurance with the same company.
What Does El Paso Renters Insurance Cover?
Your policy will probably include a package of basic coverage. You may also select some policy options that can provide additional benefits. Your local agent can discuss these coverage types with you.
- Renters property insurance: This covers your possessions against theft and other covered threats, such as fire. Common covered items might include your tools, clothes, computers and TV sets.
- Renters 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.
- Relocation assistance: This provides compensation in the event that you need to find alternative accommodations, for example if an event such as a fire or severe storm renders your rented home unlivable. Relocation assistance may provide compensation for temporary housing or even help you find another place to live. Some additional types of coverage may not be included in your basic policy.
Note that floods are a common exclusion to discuss with your local agent. El Paso participates in the National Flood Insurance Program, which helps people get flood insurance. Flood coverage will not typically be included in your renters insurance policy.
Who Should Buy Renters Insurance?
Renters insurance can provide protection for your personal property as well as your liability for damages or injuries you may cause to others. This policy will even cover your personal items if they are stolen from car, or if they are stolen while you are traveling.
Renters policies are usually very affordable, and are much less expensive than homeowners policies. Thus, renters policies provide a cost-effective way to make sure your possessions and finances are protected.
Find El Paso Renters Insurance Quotes
Don't find yourself unprotected in the face of a loss. You can find good coverage at an affordable price. A local independent agent in the Trusted Choice network can help you select coverage options and compare prices.
Contact a local member agent today to learn more about El Paso renters insurance and find coverage to protect your personal belongings.