// AUSTIN Renters PROTECTION
Renters’ insurance coverage
We want to help you understand precisely what your options are when it comes to renters’ coverage. From the basics – the coverages that come with every policy – to optional insurance that provides extra protection based on your needs. To customize your policy, simply select the coverages you need and deselect the ones you don’t. This way, you can ensure you’re only paying for what you need.
Insurance coverage for your belongings
Personal Property
Pays the actual cash value of covered personal property that needs to be replaced due to a covered loss. ‘Actual cash value’ is the value of your belongings at the time of the loss, taking into account factors such as depreciation. This means you’ll receive the current value of your items, not their original purchase price.
Jewelry Coverage
Replace your jewelry if it is lost or stolen, with no deductible. This coverage, known as ‘Jewelry Protection ‘applies to all your jewelry items collectively rather than individually.
Personal Property
Pays the actual cash value of covered personal property that needs to be replaced due to a covered loss.
Insurance coverage for damages
Personal Property
Pays the actual cash value of covered personal property that needs to be replaced due to a covered loss. ‘Actual cash value’ is the value of your belongings at the time of the loss, taking into account factors such as depreciation. This means you’ll receive the current value of your items, not their original purchase price.
Jewelry Coverage
Replace your jewelry if it is lost or stolen, with no deductible or up-front appraisal necessary.
Personal Property Replacement Cost
In the event of a covered loss, we’ll pay the actual cash value for items at the time of loss, up to the full cost in today’s market.
Personal Liability and Medical Payment to Others
Covers you in the event of injury or property damage to somebody else.
Insurance coverage for expenses
Additional Living Expenses/Loss of Rent
Covers any necessary increase in living expenses incurred by you and your house so that you can maintain their usual standard of living.2
Inflation Protection
With our Inflation Protection, you have the power to automatically adjust your coverage limits at your policy’s renewal to keep pace with inflation, and you will also receive a discount on your policy premium.
Ready for a quote?
// faq
Get the answers you’re looking for: Renters Insurance
How much is your stuff worth?
Well, you’re in luck because we have an easy way of estimating the value of all those items. Our Personal Property Insurance calculator will help make it simple and allow us to find out what kind of coverage would best suit you.
I am a renter, not a homeowner. Do I still need insurance?
Yes, renters insurance is recommended for when you live in someone else building structure or other rented living space. Without renters insurance to protect your belongings from damages caused by events such as fire or theft, you might potentially be responsible for paying out of pocket to replace them.
Doesn't my landlord's insurance covers my personal belongings?
While your landlord most likely does have insurance, Your insurance is not the same. Landlord insurance only covers the physical structure of the building but not your personal belongings within it.
I live in an apartment with roommates. Do we each need a renters policy?
Yes, renters insurance covers your belongings but also if you happen to be the cause of the accident that places your roommates’ stuff in harm, they might want to be compensated or might end up suing you for damages.
Having renters insurance would ensure that you would all be covered separately if something happened. Any time you create a claim it shows on your record, you dont want to carry claims from someone else fault.
Does renters insurance cover my stuff while it's being used?
Coverages vary for renters insurance, but they include Personal Property and Contents Coverage. If you happen to be using or taking part in an activity that puts your Personal Property at risk, renters insurance might kick in and protect you.
Who decides how much my property is worth??
Settling on property damage coverage is based on the actual cash value rating of your renter’s policy. Renters insurance protects you from incurring a financial loss when your property is lost or damaged in an unforeseen event. Using the calculator above will help us determine what dollar value rating best fits your needs.
- Actual Cash Value (ACV) – The amount it would cost to repair or replace your renter’s belongings after depreciation.
- Replacement Cost Coverage (RCC) – The amount it would cost to repair or replace your renter’s belongings, regardless of depreciation. With renters insurance, you’re not required to settle for the actual cash value of the property if it’s damaged.
Does my renter's insurance cover my possessions even when I go on vacation?
You might think that renters insurance is only applicable if you live in an apartment building, but it’s not. It provides coverage for all your possessions, no matter where they are. Whether or not the location matters about a covered event happening at home – as long one has paid up his monthly premium beforehand!
What if I am sued or found responsible for injuring another person?
Under renters insurance coverage, you are insured if someone sues you. insurance liability also covers legal expenses, up to the limits of your renter’s policy, should you be found liable for injuring another person or damaging another person’s property.
How do I create an inventory after getting renters insurance?
This may not be the most fun part of renters insurance, but creating an inventory could save you money in the long run. There are great renters insurance checklist templates to make it easy for you.
Does a college student need insurance for their apartment?
Yes, renters insurance is an excellent option for college students! In the unfortunate event that they have to make a claim, you will want to look into coverage limit. This type of policy covers items such as furniture and clothing even if they’re lost in a fire or damaged by severe wind or hail.
//Talk to an Insurance Expert