Renters Insurance College Station TXDue to an inconsistent economy, the home buyers market over the past few years has been equally inconsistent. Because of this, more people than ever are renting – houses, apartments, condos and whatever else that can be found. Renting removes many of the concerns of home ownership, which can be particularly significant in a bad economy. Unfortunately, many who rent a living area do not understand the importance of renters insurance in College Station TX – and are unprotected from financial hardship if something even minor should happen.

Like Homeowner’s Insurance – Almost

There tends to be confusion between homeowners and renters insurance in Bryan TX. It actually isn’t that hard to understand and is rather logical. Homeowners insurance covers the owned building, separate buildings on the property, and all of the contents that are within such buildings. Renters insurance in College Station Texas is only going to cover the contents that are owned by the renter – because a renter doesn’t own the building or some of the major interior items like stove, refrigerator, HVAC, etc. and is not responsible for it should a loss happen. In insurance jargon, renters insurance is actually another Form of the Homeowners Policy that is unique to a rental situation.

Required – or Not?

Whether or not renters insurance is required is entirely up to the owner of the rental building. Most commercially owned apartments, condos and home developments require that tenants purchase rental insurance in Bryan Texas before moving in, in fact require a copy of the Declarations Page as evidence of appropriate insurance coverage. It would be nice to think that this is required to protect the tenant; however, it is usually to protect the building owner should a loss occur especially as a result of the owner’s negligence in some fashion. With all tenants having their own insurance, payments can be made by insurance companies to policy owners and the at-fault party has bought some time to negotiate payments down as much as possible. This would be more likely to happen with an insurance company than with individual tenants already unhappy about the loss.

Owners of private homes, condos or other individually-owned dwellings are more likely to not require a tenant to be insured prior to moving in. A tenant is usually put on notice that there is not any coverage for their belongings should a loss occur. As indicated above, it will always be a very wise move to purchase renters insurance in College Station – and the cost is usually not very much at all, depending on the items to be insured – and it will always be money well spent.

All of that said, it could be summarized quite easily by saying that anyone who rents property in which to live should get rental insurance to protect themselves and their belongings. Don’t wait until a loss happens to discover just how much it would cost to replace all owned personal property. Don’t be left with nothing should a loss happen. Paying the small cost of renters insurance in Bryan buys so much peace of mind – and that is a price that is hard to calculate!

Let Jones & Associates Design Renters Insurance in College Station Just Right For You!
Are you realizing you need  renters insurance in Bryan TX to protect your belongings? Call Jones & Associates at (979) 776-4740 and let them prepare a policy to cover your personal property!