Renters Insurance in Texas

Contributor, Benzinga

Did you know most of our readers prefer to work with Lemonade for their renters insurance needs?

Are you renting an apartment or a house? If so, consider renters insurance. You don’t want to find out what would happen if an incident occurs and your landlord’s insurance policy doesn’t cover your valuables.

Don’t miss out and get coverage that can replace your damaged items. Find out why you might want to buy renters insurance in Texas.

Quick Look: The Best Renters Insurance in Texas

Best Renters Insurance in Texas

The best insurance provider for your renters insurance will offer great coverage, good claims servicing and reasonable premiums. It’s crucial to find a balance — cheap coverage but poor claims servicing could lead to a lot of headaches. Start with our list of the top 4 renters insurance providers in Texas and get multiple quotes to find your best option.

1. Lemonade

Did you know most of our readers prefer to work with Lemonade for their renters insurance needs?

Lemonade is a newcomer in the insurance industry, but it’s been quickly capturing market share. Part of a wave of online-only insurers who aim to appeal to younger generations, everything from your quote to your application to claims processing is done online or through its app.

Its goal is to make getting renters insurance easy and painless. High-powered algorithms can get you insured in just 90 seconds, an industry record. 

Lemonade is also inexpensive, starting as low as $5 per month. If you want to buy renters insurance in a hurry and prefer to do everything online, it’s a good pick.

Get Protection Now

Lemonade offers fast, easy coverage through their seamless application and claims process. Get personal property and liability protection with Lemonade Renters Insurance.

get a quote securely through Lemonade’s website
Best For
Best For Seamless, 100% digital sign-up
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1 Minute Review

Lemonade Insurance Company is a newer player when it comes to renters insurance. It’s become a popular choice because it uses technology to simplify buying insurance and getting claims paid. 

You can get the full Lemonade experience using its mobile app or website. To buy a policy, Lemonade walks you through a short, easy application. During the application, you can determine your deductible and adjust for areas that need more coverage. For example, if you have expensive electronics, you may want to increase your coverage above the default to ensure you can get them replaced if a worst-case scenario occurs. 

Another feature that sets Lemonade apart is its Giveback program. When you get a Lemonade policy, you choose a nonprofit to support. There are many charities to choose from, including the American Red Cross, UNICEF, Teach For America, the ACLU and The Trevor Project. Out of the premiums you pay each month, Lemonade pays its expenses and pays claims. Any premiums left go toward your charity of choice. Lemonade donated over $2 million in 2021 through its Giveback program. 

Lemonade is best for those who are comfortable communicating and filing claims through the app or website. If you have questions for Lemonade, you can get in touch through the app or by clicking the “Help” button on the bottom of the website, by emailing them directly at help@lemonade.com, or giving them a call. 

Lemonade also isn’t available in all states. Its renters insurance is available in Arizona, Arkansas, California, Colorado, Connecticut, District Of Columbia, Florida, Georgia, Illinois, Indiana, Iowa, Maryland, Massachusetts, Michigan, Missouri, Nevada, New Jersey, New Mexico, New York, Ohio, Oklahoma, Oregon, Pennsylvania, Rhode Island, Tennessee, Texas, Virginia, Washington, and Wisconsin.

Learn more about Lemonade renters insurance in this review. 

Best For
  • Renters who want a simple application process
  • Renters comfortable with using apps
  • Renters who want to support charities through the businesses they work with
Pros
  • Easy application that you can complete using the app
  • Fast, hassle-free claims process
  • Supports charities
Cons
  • Not available in all states

2. American Family

American Family (AmFam) came in at the top of J.D. Power’s renters insurance customer satisfaction survey in 2019. From claims processing to price, its customers are highly satisfied with AmFam.

AmFam covers everything inside your apartment, from your dining room table to your clothes and will pay for your hotel if an unexpected covered event means you can’t stay at your apartment. You’re even covered if your computer is stolen at a coffee shop.

Coverage for valuable items stops at $1,500, but you can add a rider onto your policy for higher-priced items. 

You’ll get a whopping 29% discount on your auto insurance and 15% off on renters insurance if you bundle both. Smart home systems such as doorbells or a smoke alarm system can also save you money on premiums.  

AmFam also gives customers great digital tools. You can pay your bill, change your coverage, file a claim, and track its status online or through their app. Overall, AmFam has done an excellent job of addressing every part of the customer experience.

3. Liberty Mutual

A burst pipe in your neighbor’s apartment doesn’t always happen during business hours. Liberty Mutual offers 24/7 claims processing. You can file claims online, by phone or through the Liberty Mutual app. You can message through live chat and track your claims process online or on the app.

Liberty Mutual covers furniture, clothing, electronics and personal items up to a certain amount. (Check with the company for details.) You can also add on coverage specific to replace your phone or computer and get identity fraud protection, which will help you with the cost of recovering a stolen identity.

Bundle auto and renters to save money, and if you remain claims-free for 5 years or longer, you’ll earn more discounts. Liberty Mutual offers good all-around renters insurance with excellent claims processing.

Best For
Tailored coverage
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1 Minute Review

Liberty Mutual protects your home against a variety of common dangers and losses. An optional provision, known as loss forgiveness, helps prevent rates from going up after you file your first claim, while inflation protection helps protect your belongings each time your policy renews to help balance it with the cost of living. Damaged items are replaced at full cost, so you don’t have to worry about those items being depreciated and having to pay the difference out of pocket.

Get home insurance, renters and landlord policies from Liberty Mutual.

Best For
  • Homeowners who want the freedom to customize some aspects of their coverage
  • Homeowners looking for insurance that covers the full replacement cost of their personal property
  • Those who are looking to save money with a solid selection of discounts
  • People who want to be able to view and manage their policy online
Pros
  • A long and considerable list of discounts that can save you hundreds of dollars
  • Ability to manage and track claims directly from computers or mobile devices
  • Excellent claims rating
  • Established company
Cons
  • Decent financial stability, but could be improved
  • Customer service and claims handling not always consistent or satisfactory

4. Allstate

Allstate can give you opportunities to save money. Bundle your renters and auto insurance policies and other options, too.

You could save up to 15% on your premiums if your rental has a security system or fire alarm. You can save 5% with Allstate’s Easy Pay Plan, which automatically deducts your monthly premium from a checking or savings account. You can also save up to 25% on your premium if you’re a retiree who’s 55 or older, and those who aren’t actively looking for work can also save up to 25% off their premiums. 

If you switch coverage to Allstate after being claims-free at another provider, you’ll save 20%. Each year you don’t file a claim you’ll get bonus savings. Allstate’s billing process and policy information also received the highest score possible in a J.D. Power customer satisfaction survey.

get started securely through Allstate’s website
Best For
High-Value Items
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1 Minute Review

Allstate is a well-known insurance company with a national presence. It offers several insurance products, including renters insurance. If you have multiple policies with Allstate, you may be eligible for a discount on your insurance products. Allstate offers comprehensive renters insurance coverage, including water and sewer damage. It also offers generous protection for expensive items such as jewelry. If you live in a high-risk area, however, you may notice that your renters insurance premium is much higher than some of Allstate’s competitors.

Best For
  • Renters who own high-value items
  • Renters who live in areas that are considered moderate or low-risk
Pros
  • Water and sewer damage included
  • No overall limits on reimbursement amounts
Cons
  • Premiums can vary widely depending on where you live
  • Below-average coverage for electronics

Renters Insurance in Texas Overview

Renters insurance is similar to homeowners insurance — it protects the place you live and the stuff inside your dwelling. Renters insurance isn’t mandatory in Texas, but many landlords may require you to get as a part of your lease.

Texas tops the list of renter majority cities in the U.S., which means that in most Texas cities, more people rent than own. Many residents have shifted to renting due to a strong military and college student presence and rising home prices.  

Average Annual Renters Insurance Premium in Texas

Average renters insurance in Texas costs around $268, or roughly $22 per month. It’s much higher than the nationwide average of $185 per year. These discounts could save you money on your policy:

  • Multi-policy discounts: You can earn a discount if you buy more than 1 type of insurance policy from the same carrier. For example, you can earn a discount if you bundle it with your auto insurance.
  • Safety device discount: Many insurance carriers offer discounts if your apartment has a security system or hardwired fire alarm system.
  • Auto-pay discounts: Signing up for auto-withdrawals from a bank account or credit card could earn you a 5% discount with many carriers.
  • Claims-free discount: This discount applies if you’ve been claims-free for several years, though the time you must be claims-free varies by company.

Renters Insurance Coverage Explained

Your landlord carries insurance for the building, grounds and common areas but his insurance policy won’t cover your belongings. Your landlord’s insurance wouldn’t cover your costs if your upstairs neighbor’s bathtub flooded, soaked through the floor and ruined your couch, for example. 

Renters insurance provides coverage for personal belongings if they’re destroyed, lost or stolen. The liability clause in your renters insurance protects you if you’re sued when someone gets hurt in your apartment. Your policy will also cover medical payments to others if someone is injured in your apartment. Loss of housing coverage pays for you to live elsewhere if your apartment becomes uninhabitable.

Most Affordable Cities for Renters Insurance in Texas

If you don’t want to pay a lot for renters insurance, these are the most affordable cities in Texas:

  • McKinney
  • Plano
  • Waco
  • Amarillo
  • Killeen

Most Expensive Cities for Renters Insurance in Texas

Expect to pay more for renters insurance if you live in:

  • Austin
  • College Station
  • Fair Oaks Ranch
  • Marble Falls
  • Prairie View

Shop Around for Renters Insurance in Texas

Assess what it would cost to replace most or all of your belongings. The amount might surprise you, particularly if your couch is 10 years old. You’ll need this number when you request quotes.

Don’t want to pay a lot for renters insurance? The easiest way to reduce your premiums is to increase your deductible. You’ll pay lower premiums if you’re willing to pay more out of pocket for damages before insurance kicks in. 

Spend a little time with our list to find the best renters insurance in Texas for you.

Frequently Asked Questions

Q

Does renters insurance cover valuables?

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Does renters insurance cover valuables?
asked
A
1

Your renters insurance might cover valuables using a rider, but you may need an inland marine policy for extremely valuable collectibles or heirlooms.

answered
Q

Does renters insurance protect the structure?

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Does renters insurance protect the structure?
asked
A
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No. Renters insurance protects your belongings and offers payment for your hardships.

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Get Protection Now

Lemonade offers fast, easy coverage through their seamless application and claims process. Get personal property and liability protection with Lemonade Renters Insurance.